Researcher Defends Ethereum Foundation: Its Role Is Not to “Pump ETH,” But to Make Itself Gradually Irrelevant

Odaily Planet Daily News Blockchain researcher and investor William Mougayar has come to the defense of the Ethereum Foundation, stating that the outside world has long misunderstood the foundation's positioning, and that it is “accurately fulfilling its mission.”

Mougayar stated that ETH, the Ethereum network, and the Ethereum Foundation itself are three distinct entities: ETH is an asset, Ethereum is a shared computing infrastructure, and the foundation is a non-profit organization responsible for advancing protocol development, with one of its goals even being to “make the founder gradually irrelevant.”

He pointed out that many critics want the foundation to shoulder responsibilities like marketing ETH and attracting institutional capital, but this is akin to “expecting the IETF to run Super Bowl ads for TCP/IP.” He emphasized that the Ethereum Foundation is currently on a “subtraction path,” strengthening the network by promoting protocol upgrades, funding fundamental research, and reducing its own centralizing influence.

Recently, the Ethereum Foundation has faced community criticism for selling ETH, unstaking, and a lack of public communication. Data shows that this month it has completed its third OTC sale to BitMine Immersion Technologies, selling a total of approximately 25,000 ETH, worth about $47 million. Additionally, the foundation has recently unstaked over 38,000 ETH, with a total value close to $90 million. (Cointelegraph)