「Ethereum Savior」: Former Foundation Developer Proposes Raising $1 Billion to Establish ETH Advocacy Organization

May 22: Former Ethereum Foundation core developer Dankrad Feist is calling for raising at least $10 billion to launch a new Ethereum advocacy organization aimed at "saving" ETH. The existing Ethereum Foundation, a non-profit, holds less than 0.1% of ETH and generates no staking or fee income—creating a disconnect from Ethereum’s economic interests that Feist argues is hindering effective efforts to boost ETH’s price. Under his proposal, the new organization would need robust financial support, "battle-ready" leadership, and a board of directors with direct stakes in ETH to align their priorities with growing the cryptocurrency’s value. Part of the funds could come from staking revenue to ensure tighter alignment and accountability with the Ethereum ecosystem. This push comes amid ongoing talent exodus at the Ethereum Foundation: Feist himself left last year to join Layer 1 project Tempo, and two additional researchers resigned just this week—amplifying community frustration with the foundation’s governance and ETH’s underperformance. Feist, a co-creator of critical Ethereum scalability solutions like Danksharding, has sparked fierce debate across the crypto community. Some view his proposal as long-overdue reform, while others warn it could bring centralization risks. For more details on the Ethereum Foundation’s current situation, visit this TheBlockBeats article: https://www.theblockbeats.info/news/62440.