Vitalik Buterin Says Ethereum Foundation Will Be a "Smaller Ship" That Sells Less ETH
Buterin said the foundation holds 0.16% of all ETH and will direct remaining funds to open-source work after years of restructuring.
- On Sunday, Ethereum co-founder Vitalik Buterin published a lengthy post defending the Ethereum Foundation's ongoing restructuring and outlining its long-term direction amid months of internal turbulence.
- Tensions crystallized Thursday when former EF researcher Dankrad Feist proposed a new $1 billion organization to "save Ethereum" with a mandate tied to ETH's price, amid the foundation's deepest talent drain in its history.
- Buterin noted the foundation holds roughly 0.16% of all ETH, far below the 10% to 50% common at other blockchain foundations, and will focus solely on activities supporting Ethereum's censorship resistance, openness, privacy, and security via the CROPS framework.
- In an unusual personal disclosure, Buterin revealed nearly 90% of his net worth sits in ETH, while his influence within the organization will continue to shrink, "which is honestly what I want."
- Interim co-executive director Bastian Aue, who took over in February, is executing the transition focused on three technical priorities: provably bug-free Ethereum via AI-assisted formal verification, available chain consensus, and intermediary minimization, with stabilization expected over coming months.
48 Articles
48 Articles
The New York Ledger
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