{"id":428031,"date":"2026-05-22T13:58:24","date_gmt":"2026-05-22T08:28:24","guid":{"rendered":"https:\/\/dripp.zone\/news\/prominent-ethereum-dev-proposes-1-billion-eth-organization-with-leader-who-wants-to-fight-crypto-news\/"},"modified":"2026-05-22T15:26:28","modified_gmt":"2026-05-22T09:56:28","slug":"prominent-ethereum-dev-proposes-1-billion-eth-organization-with-leader-who-wants-to-fight-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/prominent-ethereum-dev-proposes-1-billion-eth-organization-with-leader-who-wants-to-fight-crypto-news\/","title":{"rendered":"Prominent Ethereum Dev Proposes $1 Billion ETH Organization With Leader Who &#8216;Wants to Fight&#8217; &#8211; Crypto News"},"content":{"rendered":"<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<div class=\"pt-8 pb-10 border-t border-b border-decryptGridline \">\n<h4 class=\"sc-b2a202e4-4 bNRGqr gg-dark:text-white\" color=\"#333\">In brief<\/h4>\n<ul>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Former Ethereum Foundation researcher Dankrad Feist proposed replacing the organization with a new group.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The new group would need at least $1 billion in ETH funding, he said, plus staking fees and a focus on raising ETH&#8217;s price.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The remarks come amid resignations at the Foundation and frustration with Ethereum co-founder Vitalik Buterin.<\/li>\n<\/ul>\n<\/div>\n<p><iframe title=\"Spotify Embed: The Decrypt News roundup with TylerD - May 20th\" style=\"border-radius:12px\" width=\"100%\" height=\"152\" frameborder=\"0\" allowfullscreen=\"\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\" src=\"https:\/\/open.spotify.com\/embed\/episode\/3GwerTHhBTkAoXc5zTONE2?si=BDLR-9e6QqyvvgSotvJGzw&#038;utm_source=oembed\"><\/iframe><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Amidst a cascade of resignations and mounting scrutiny over its long-term vision, the <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/decrypt.co\/resources\/what-is-ethereum-quickly-explained-four-minute-guide\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\">Ethereum<\/a> Foundation was hit Thursday with a stinging rebuke by one of its most prominent former members.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Dankrad Feist, who until last year served as one of the Ethereum Foundation\u2019s top researchers, suggested today that a new organization be built in its place to \u201csave Ethereum.\u201d\u00a0<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The organization would need at least $1 billion in funding, Feist said, provided by \u201ca significant amount\u201d of revenue derived from ETH staking fees.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cThe EF now holds less than 0.1% of all ETH,\u201d Feist said. \u201cThere is no flow of Ethereum staking or fee revenues to it.\u201d<\/span><\/p>\n<div class=\"relative w-full\">\n<blockquote class=\"twitter-tweet mx-auto\">\n<p lang=\"en\" dir=\"ltr\">The way to save Ethereum: The community needs to create an organization that&#8217;s economically aligned with Ethereum and accountable to it.<\/p>\n<p>The EF now holds less than 0.1% of all ETH. There is no flow of Ethereum staking or fee revenues to it. <\/p>\n<p>If we want to get Ethereum back to\u2026<\/p>\n<p>\u2014 Dankrad Feist (@dankrad) <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/twitter.com\/dankrad\/status\/2057441946616930799?ref_src=twsrc%5Etfw\" data-wpel-link=\"internal\">May 21, 2026<\/a><\/p>\n<\/blockquote>\n<\/div>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">He added that the new organization would need a board of people \u201cwho want ETH to go up\u201d and \u201ca leader who is competent and wants to fight.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">In recent months, Ethereum co-founder Vitalk Buterin has struggled to satisfy community members who worry the Ethereum Foundation is more preoccupied more with idealism and arcane technological improvements than with economics and marketing.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><i>Decrypt<\/i> reached out to Feist about the post, including seeking clarification on whether he was referring to any specific leader, and will update if we receive a response.<\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Despite its long-held position as crypto\u2019s second most-valuable asset behind Bitcoin, ETH has struggled mightily to make significant price gains in recent years, and has yet to breach $5,000. It came close last summer, but has since plunged by nearly 57% to more than $2,100.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Last year, Buterin <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/decrypt.co\/302143\/wartime-vitalik-defi-milady-ethereum-foundation\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">acknowledged<\/span><\/a><span style=\"font-weight:400\"> the organization needed to make \u201clarge changes.\u201d But when the Ethereum Foundation released a long-anticipated new <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/ethereum.foundation\/ef-mandate.pdf\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">mandate<\/span><\/a><span style=\"font-weight:400\"> in March, the document not only contained vaguely sexual language and imagery, including allusions to the controversial <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/decrypt.co\/139593\/elon-musk-tweets-miladys-nft-meme-price-predictably-pumps\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Miladys<\/span><\/a><span style=\"font-weight:400\"> NFT collection\u2014but also repeatedly emphasized the organization\u2019s lack of desire to get too fixated in boosting ETH\u2019s price.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cOur bottom line is not profit, nor organizational growth, nor blind adoption at all costs,\u201d the document reads.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cWe are NOT a marketing agency\u2026. We are NOT a casino\u2026. We are NOT opportunists,\u201d another section stated.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Since the mandate went live, <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/0xstark\/status\/2044757694389670239\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">several<\/span><\/a> <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/barnabemonnot\/status\/2053914533211558331\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">members<\/span><\/a><span style=\"font-weight:400\"> of the Ethereum Foundation\u2019s leadership <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/CarlBeek\/status\/2056379557889143042\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">have<\/span><\/a> <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/_julianma\/status\/2056391635731128763\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">resigned<\/span><\/a><span style=\"font-weight:400\">\u2014including two this week, fueling further doubts about the current organization\u2019s ability to lead the Ethereum ecosystem.<\/span><\/p>\n<p><iframe loading=\"lazy\" style=\"border:0\" src=\"https:\/\/myriad.markets\/embed\/market\/ethereum-next-move-pump-to-3k-or-dump-to-1-5k-2165c555-6846-4387-84ab-9f11d08820b9\" width=\"100%\" height=\"415px\"><span data-mce-type=\"bookmark\" style=\"display:inline-block;width:0px;overflow:hidden;line-height:0\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">None of those developers, however, made direct reference to Buterin\u2019s vision for Ethereum or the Ethereum Foundation&#8217;s new mandate. Feist\u2019s comments today are the bluntest levied at the organization by someone who, until fairly recently, was a key driver of its work.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Last fall, Feist left the Ethereum Foundation to <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/decrypt.co\/344829\/stripes-tempo-blockchain-raises-500-million-poaches-ethereum-dev\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">build Tempo<\/span><\/a><span style=\"font-weight:400\">, a private blockchain under development by payments giant Stripe. One crypto commentator <\/span><a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/x.com\/GwartyGwart\/status\/1979147842125021655\" target=\"_blank\" rel=\"nofollow external noopener\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">likened<\/span><\/a><span style=\"font-weight:400\"> the <\/span><span style=\"font-weight:400\">career shift, at the time, to the notion of environmental activist Greta Thunberg accepting a position at oil giant British Petroleum.\u00a0<\/span><\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-[6px] md:border-l-[6px] md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl md:text-center gg-dark:text-white\">Daily Debrief<!-- --> Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In brief Former Ethereum Foundation researcher Dankrad Feist proposed replacing the organization with a new group. The new group would need at least $1 billion in ETH funding, he said, plus staking fees and a focus on raising ETH&#8217;s price. The remarks come amid resignations at the Foundation and frustration with Ethereum co-founder Vitalik Buterin. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":428034,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-428031","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/428031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=428031"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/428031\/revisions"}],"predecessor-version":[{"id":428035,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/428031\/revisions\/428035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/428034"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=428031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=428031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=428031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}