Prominent Ethereum Dev Proposes $1 Billion ETH Organization With Leader Who 'Wants to Fight' - Decrypt

In brief

Former Ethereum Foundation researcher Dankrad Feist proposed replacing the organization with a new group.

The new group would need at least $1 billion in ETH funding, he said, plus staking fees and a focus on raising ETH's price.

The remarks come amid resignations at the Foundation and frustration with Ethereum co-founder Vitalik Buterin.

Amidst a cascade of resignations and mounting scrutiny over its long-term vision, the Ethereum Foundation was hit Thursday with a stinging rebuke by one of its most prominent former members.Dankrad Feist, who until last year served as one of the Ethereum Foundation’s top researchers, suggested today that a new organization be built in its place to “save Ethereum.” The organization would need at least $1 billion in funding, Feist said, provided by “a significant amount” of revenue derived from ETH staking fees.“The EF now holds less than 0.1% of all ETH,” Feist said. “There is no flow of Ethereum staking or fee revenues to it.”