Crypto Founder Calls For Dissolution Of Ethereum Foundation Following Price Suppression Rumors
Marc Zeller, founder of the Aave Chan Initiative, has proposed the dissolution of the Ethereum Foundation, citing concerns over its $100 million annual budget and recent treasury management activities. Zeller questioned the necessity of such a budget and highlighted the disparity in compensation for the Geth team, who perform essential work. The Ethereum Foundation's Executive Director, Aya Miyagotchi, explained that a recent deposit of 35,000 ETH into Kraken was part of treasury management, necessary due to regulatory complications from a past SEC investigation. She assured that there would be gradual sales of ETH rather than a massive sell-off. Research indicates that the Foundation could deplete its ETH holdings in eight years at its current spending rate, primarily on grants. Zeller suggested cutting all grants to ensure sustainability.
