Researchers support the Ethereum Foundation: its role is not to “pull ETH,” but to gradually make itself less important

Comparing news, blockchain researcher and investor William Mougayar wrote an article defending the Ethereum Foundation, saying that the outside world had misunderstood the foundation's position for a long time and that it “is accurately completing its mission.”

According to Mougayar, ETH, the Ethereum network, and the Ethereum Foundation itself are three different entities: ETH is an asset, Ethereum is a shared computing infrastructure, and the Foundation is a non-profit organization responsible for driving the development of the protocol, and one of its goals is even to “gradually make the founders less important.”

He pointed out that many critics want the foundation to take on responsibilities such as marketing ETH and attracting institutional funding, but this is equivalent to “expecting the IETF to advertise the Super Bowl for TCP/IP.” He stressed that the Ethereum Foundation is currently on the “subtraction route” to strengthen the network by promoting protocol upgrades, funding underlying research, and reducing its centralized influence.

Recently, the Ethereum Foundation was criticized by the community for selling ETH, de-staking, and less public communication. According to the data, it has completed its third OTC sale to BitMine Immersion Technologies this month, selling a total of about 25,000 ETH worth about $47 million. In addition, the Foundation recently released more than 38,000 ETH staked, with a total value of nearly $90 million.