Polygon Co-Founder Mihailo Bjelic Exits Layer 2

May 24, 2025

in Breaking, News

Reading Time: 7 mins read

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By Parikshit Mishra

May 24, 2025, 7:07 a.m.

Polygon co-founders Sandeep Nailwal (left) and Mihailo Bjelic (Polygon Labs)

Mihailo Bjelic, a co-founder of Polygon, announced his departure from the network.
With Bjelic’s exit, Sandeep Nailwal remains the sole original founding member.
Polygon, initially known as Matic, was founded by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic, and Anurag Arjun.

Mihailo Bjelic, one of the four co-founders of Polygon, is exiting the network.

Bjelic made the announcement on X, “After much thought and reflection, I’ve decided to step down from the board of the Polygon Foundation, and wind down my day-to-day involvement with Polygon Labs,” he said.

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With Bjelic’s exit, co-founder Sandeep Nailwal becomes the last remaining member of the original founding team.

Nailwal acknowledged Bjelic’s contributions to the network and wished him luck for the future.

The layer 2 network, which was original known as Matic, was formed by Jaynti Kanani, Sandeep Nailwal, Mihailo Bjelic and Anurag Arjun.

As of writing, Polygon’s POL is down 5% in the last 24 hours, trading over 23 cents.

Parikshit Mishra is CoinDesk’s Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.