Researcher Defends Ethereum Foundation: Its Role Is Not to "Pump ETH," but to Gradually Make Itself Less Relevant

Odaily Planet Daily News Blockchain researcher and investor William Mougayar has defended the Ethereum Foundation, arguing that the public has long misunderstood its positioning and that it is "precisely 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 being "to gradually make its founders less relevant."

He pointed out that many critics expect the Foundation to take on responsibilities like marketing ETH or attracting institutional capital, which he likened 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 advancing protocol upgrades, funding underlying research, and reducing its own centralized influence.

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