Prominent Ethereum Dev Proposes $1 Billion ETH Organization With Leader Who 'Wants to Fight'
Ethereum Foundation faces internal turmoil, with prominent former researcher Dankrad Feist calling for its replacement by a new, well-funded organization aligned with Ethereum’s economic interests. Feist argues that the Foundation now holds less than 0.1% of all ETH and does not receive ETH staking or fee revenues, leaving it without strong economic ties to the network. He advocates for an organization with at least $1 billion in funding, a board and leader focused on ETH's price and growth, and accountability to the community. Recent dissatisfaction has grown over the Foundation’s perceived focus on idealism and technical goals rather than economic performance and marketing. Ethereum's price remains volatile and well below its all-time high, fueling criticism. The Foundation’s new mandate downplayed profit motives and price appreciation, insisting it is not a marketing or profit-driven entity. Multiple resignations, including two leaders this week, have heightened concerns over the Foundation’s direction and effectiveness. Feist, now working on a separate private blockchain project, has issued the most direct rebuke yet from a recent insider.
