Researcher Defends Ethereum Foundation: Its Mission Is Not to "Pump ETH," But to Make Itself Gradually Irrelevant

Odaily Planet Daily News Blockchain researcher and investor William Mougayar has written in defense of the Ethereum Foundation, arguing that the outside world has long misunderstood its positioning, stating 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 driving protocol development, with one of its goals even being to "gradually make the founder irrelevant."

He pointed out that many critics want the Foundation to take on responsibilities like marketing ETH or attracting institutional capital, which is akin to "expecting the IETF to run a Super Bowl ad for TCP/IP." He emphasized that the Ethereum Foundation is currently on a "subtraction path," strengthening the network by advancing protocol upgrades, funding foundational research, and reducing its own centralized influence.

Recently, the Ethereum Foundation has faced community criticism for selling ETH, unstaking, and having relatively little 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 approaching $90 million. (Cointelegraph)