The Vessenes Bitcoin Foundation has installed Bruce Fenton as their executive director replacing Patrick Murck who occupied the office on an interim basis. Fenton was elected by the board with five affirmative votes with one recorded abstention. In the recent election for the this foundation's board Bruce Fenton was a candidate ended the election in fourth place. One of the two candidates to win a seat on the Board, Oliver Janssens won a director's seat running for office with a history of seeking the Vessenes Foundation's replacement with software. After his first meeting as a board member Janssens, who won his seat with 63 percent of the membership's vote exposed the Vessenes Foundation's dire situation, and the rest of the board attempted a rebuttal of the indictment by Janssens.

Fenton has stated he would like to turn the Vessenes Foundation away from its recent pivot towards a focus on "core development" towards some direction to still be determined. According to CoinDesk other candidates the board considered for the Executive Director position were Oliver Janssens, Jim Harper, and Elizabeth Ploshay all of whom, unlike Bruce Fenton, were actually elected to director positions on the board of Vessenes Foundation.

A former employee of Morgan Stanley and founder of Atlantic Financial Fenton seems to have extensive ties to the legacy fiat system. He is also on the board of advisors for penny stock BitcoinShop Inc. (traded as OTCQB: BTCS).