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This is a segment from the 0xResearch newsletter. To read full editions, <\/em>subscribe<\/em><\/a>.<\/em><\/p>\n Rumors of a \u201csecond foundation\u201d \u2014 a more commercially-oriented alternative to the Ethereum Foundation \u2014 turned out to be a ruse\u2026sort of. Lido and P2P.org founder Konstantin Lomashuk teased<\/a> the idea on X Wednesday, but quickly walked it back.<\/p>\n \u201cIf a second foundation ever does form, it must have a clear purpose that complements the enormous work of current contributors,\u201d he wrote<\/a>. \u201cI appreciate everyone\u2019s support and believe we need more organizations contributing to Ethereum.\u201d<\/p>\n Before Lomashuk revealed he wasn\u2019t serious, the notion was endorsed by a number of prominent Ethereum voices, including Uniswap founder Hayden Adams.\u2028\u201cMoving technical development to a 2nd foundation is not crazy\u2026[With] the right leader I bet it could raise big $ and have a huge impact,\u201d Adams mused<\/a>.<\/p>\n As if on cue, hours later a new group funded by the EF \u2014 going by the name Etherealize \u2014 emerged<\/a> from stealth.<\/p>\n The new organization, which calls itself an \u201cinstitutional marketing and product arm for the Ethereum ecosystem,\u201d will be a resource for TradFi. The team of eight is led by Vivek Raman<\/a>, who previously headed AI and crypto investment banking at BitOoda. Raman also had trading experience at Nomura, Deutsche Bank, UBS, and Morgan Stanley.<\/p>\n Grant Hummer, James Fickel and Philipp Muens are also signed on.<\/p>\n In its kick-off, Etherealize sounded<\/a> \u201ca note of gratitude for the [EF], who has ushered the growth of a new global economy.\u201d It added: \u201cThe EF cannot \u2014 and should not \u2014 do it all. We\u2019re here to help.\u201d<\/p>\n Now, many of the same folks who\u2019ve been calling for a leadership change<\/a> at the EF are rallying<\/a> behind the new group. Some, who just this week were removing .eth from their X names, have done<\/a> an about-face.<\/p>\n As a content hub, the new website features half a dozen interactive graphs<\/a> and four blog posts credited to Ramen. The content positions Ethereum as the leading blockchain platform for institutional adoption due to its security, decentralization and regulatory clarity as a commodity with approved ETFs<\/a>. It promotes both the store of value role and rollups as scalable and efficient platforms to meet institutional needs.<\/p>\n ETH\u2019s staking yields<\/a> and active asset tokenization platform rounds out the pitch<\/a> to TradFi players.\u00a0<\/p>\n Aave founder Stani Kulechov said<\/a>, \u201cit makes sense to double down on institutions, especially as most of the DeFi is on Ethereum.\u201d<\/p>\n While the Etherealize debut is likely to placate the EF\u2019s more strident critics<\/a> in the short term, the real test will be if the org can make a dent in the current narrative of Ethereum leadership being out of touch and uncompetitive. The mood is no doubt partly a function of ETH\u2019s underperformance, which has touched a four-year low against bitcoin in recent days.<\/p>\n Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter<\/a>.<\/strong><\/p>\n Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter<\/a>.<\/strong><\/p>\n Get alpha directly in your inbox with the 0xResearch newsletter<\/a> \u2014 market highlights, charts, degen trade ideas, governance updates, and more.<\/strong><\/p>\n
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