Discontent with the Ethereum Foundation and concerns over its impact on Ethereum’s value intensified Thursday after prominent former developer Dankrad Feist proposed creating a new organization designed to help "save" ETH.
"The way to save Ethereum: The community needs to create an organization that’s economically aligned with Ethereum and accountable to it," Feist said in a post to X, proposing a new ETH-focused organization with a minimum of $1 billion in funding and what he described as competent leadership.
In its current state, the Ethereum Foundation (EF) is a non-profit stewarding the development of the world's second-largest blockchain.
In recent years, frustration has been growing across the Ethereum community with high-profile contributors exiting EF. For his part, Feist left last year to join alternative Layer 1 network Tempo, while former researcher Danny Ryan — once considered a candidate to help run the foundation — instead co-founded Etherealize, an institutional marketing and product arm focused on promoting Ethereum.
This week, Ethereum Foundation researchers Carl Beek and Julian Ma tendered their resignations.
