Former Ethereum Researcher Suggests New $1 Billion Organization
- Dankrad Feist, a former researcher at the Ethereum Foundation, proposed replacing the organization with a new group.
- Feist suggested that the new organization would require at least $1 billion in ETH funding and focus on increasing ETH’s price.
- The Ethereum Foundation currently holds less than 0.1% of all ETH and receives no flow from staking or fee revenues.
- Recent months have seen several resignations within the Ethereum Foundation, including two this week, amid dissatisfaction with its current direction.
Feist’s proposal comes as the Ethereum Foundation faces criticism over its focus on idealism rather than economics and marketing strategies for ETH. The organization’s recent mandate emphasized non-profit goals over price growth, leading to internal tensions and leadership departures.
Despite being the second most valuable cryptocurrency after Bitcoin, ETH has struggled to surpass $5,000 and has decreased by nearly half since last summer, now standing at over $2,100. (Source)
