Bitcoin Foundation issues statement in response to accusations

Board of directors of the Bitcoin Foundation have issued a new statement on the latest controversy regarding its current financial situation and proposed restructuring.

The foundation has tried to clarify perceived misstatements issued over the last weekend in a post that triggered widespread discussion in the digital currency ecosystem. The full release targets the accusations that the foundation is "bankrupt" and has fired "90% of its staff".

The blog post also stated that a proposal to divide the organisation into two entities, one focused on promotion, the other on core development, has been approved by the board of directors, and said:

"In the last board meeting, the management team presented an austere, yet clear, path forward for the board. The board of directors voted on March 31, 2015 to proceed with the strategic plan and to work out a communications plan to roll out the decision along with the finished annual report for members and the public."

The post also said that the organisation's financial troubles are purely linked to the declining bitcoin price, and not due to its spending as suggested.