Blockchain Researcher Defends Ethereum Foundation Amid Criticism
- William Mougayar asserts that the Ethereum Foundation (EF) is functioning as intended, serving as a protocol steward rather than a marketing entity.
- ETH is currently priced at $2,117.09, reflecting a daily increase of 4.67%, but down over 57% from its all-time high of $4,953.
- The EF recently sold approximately $47 million worth of ETH to BitMine Immersion Technologies through multiple transactions.
- The foundation also unstaked a total of over $90 million in ETH this month, including amounts from Lido and other sources.
Mougayar emphasized that the EF is on a “subtraction path,” aiming to reduce its centrality in the Ethereum ecosystem while continuing to fund essential research and upgrades. This comes amid criticism regarding its impact on ETH’s market performance.
As the EF navigates these challenges, its recent actions include selling significant amounts of ETH and unstaking large quantities, totaling around $90 million this month alone.
