Myers Departs Smarter Web Company as BTC Strategy Head

Smarter Web Company's Head of Bitcoin Strategy, Jesse Myers, is leaving the company on September 1. The announcement did not provide a reason for his departure and no successor has been named to take over his duties. In his role, Myers was responsible for implementing and tracking the performance of the company's Bitcoin treasury strategy, as well as managing data and analytics work.

The company holds 2,712 BTC and has £18.5 million drawn from a Coinbase credit facility. The loan carries a 6% variable interest rate and is secured against the company's existing Bitcoin holdings. Smarter Web Company uses outside institutional custody providers to hold its Bitcoin directly.

Myers' departure may have contributed to a 5.8% drop in the company's shares, which fell to 33.20 pence on August 25. The CEO thanked Myers for his work and stated that the company remains focused on carrying out its strategy.