Ethereum’s FUD is at ATH as the community struggles to see a clear path forward, with increasing fragmentation between L2s and L1. Vitalik voiced his frustration on twitter, telling a community member advocating for a leadership change within the EF, ‘You are making my job harder’.
The EF is a nonprofit organization responsible for supporting and promoting Ethereum’s development and research. Responding to the call for a new leader, Vitalik made it clear: ‘The person who decides who will make up the leadership team of the EF is me.’
Ethereum Foundation Leadership Drama
A few days earlier, Vitalik had outlined some of the goals planned for the EF. Among them, he mentioned working on ‘significant structural changes in the leadership of the Ethereum Foundation.’
Vitalik’s response was directed at one of many posts by Ethereum community members calling for the resignation of the EF’s current executive director, Aya Miyaguchi.
Some claimed that if Miyaguchi stepped down, ETH would hit a new ATH in two weeks, arguing that his leadership is hindering progress.
Many users have been proposing that the EF’s ‘number one priority’ should be to appoint Danny Ryan, a researcher and developer in the Ethereum ecosystem, as its new leader. Ryan’s relationship with the EF stems from his work on Ethereum, being one of the main coordinators of Ethereum 2.0’s upgrade.
DCInvestor’s suggestion to nominate Ryan to the EF came in response to comments made by Dankrad
Danny Ryan may return to a leadership role at the EF. He mentioned that he had started conversations with Vitalik about re-engaging with the EF. Could a shift in EF leadership spark a change in ETH’s chart?
Ryan, who stepped down from his role at the EF a year ago due to ‘health issues and an effort to clear my mind,’ expressed gratitude for the community’s support but criticized how some users were voicing their opinions.
On the other hand, Ethereum is making progress on what to expect from future upgrades (Pectra, Fusaka), which changes need to be prioritized, and establishing clear, global hardware requirements for nodes to set a standard
After the drama, the EF announced ‘an institutional marketing and product arm for the ethereum ecosystem’, which also features an interesting dashboard with Ethereum L1 & L2 analytics.
The EF selling ETH
In the meantime, the EF continues selling ETH to fund operations. However, this is being overblown—these sales have little impact on the ETH price. Also, many foundations, like Solana, Cosmos (via the Interchain Foundation), and Uniswap Labs, sell assets to fund themselves
Another criticism they received is that the EF does not use DeFi protocols at all. It seems at least they’re
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