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Ethereum Foundation considers staking its $1B ETH holdings amid criticism and leadership overhaul
The post Ethereum Foundation considers staking its $1B ETH holdings amid criticism and leadership overhaul appeared on BitcoinEthereumNews.com. Key Takeaways The Ethereum Foundation is exploring staking options amid criticism of its asset management. Vitalik Buterin cited regulatory challenges as historical reasons for not staking. The Ethereum Foundation has been catching flak for just selling ETH to pay the bills instead of exploring staking or DeFi. Now, according to Vitalik Buterin, the foundation is indeed looking into these options, including the possibility of staking approximately $1 billion in ETH holdings. Backlash against Ethereum Foundation has intensified over the past few days due to its lack of engagement in the Ethereum ecosystem and ETH sales. Lookonchain reported that the Ethereum Foundation offloaded another 100 ETH on Monday for about $336,000. The ETH sales, since January 2, 2024, have amounted to $13 million, or 4,666 ETH. DCinvestor, a strong advocate for the ecosystem, said Trump-backed World Liberty Financial is “more aligned with the success of Ethereum-based DeFi than the Ethereum Foundation is.” “Trump created a DeFi protocol team, they’re using Aave, they use Cowswap to sell proceeds of their sale into ETH. EF most of the time pretends like DeFi doesn’t exist because they are so afraid of playing favorites, they’d rather solely focus on the “world computer” narrative rather than acknowledge how the chain is being used,” said DCinvestor. “In order to be totally neutral, we literally cannot use the chain we are here to uphold and protect,” he criticized the foundation in a separate post. In response to DCinvestor, Josh Stark, a contributor to the Ethereum Foundation, stated that the foundation actively uses the Ethereum blockchain in its day-to-day operations. The EF is actively engaged with the Ethereum ecosystem through swapping ETH for stablecoins for operational purposes, making payments to grantees and team members in ETH and stablecoins, using the mainnet and layer 2 networks, as well as on-chain…
The post Ethereum Foundation considers staking its $1B ETH holdings amid criticism and leadership overhaul appeared on BitcoinEthereumNews.com.
Key Takeaways The Ethereum Foundation is exploring staking options amid criticism of its asset management. Vitalik Buterin cited regulatory challenges as historical reasons for not staking. The Ethereum Foundation has been catching flak for just selling ETH to pay the bills instead of exploring staking or DeFi. Now, according to Vitalik Buterin, the foundation is indeed looking into these options, including the possibility of staking approximately $1 billion in ETH holdings. Backlash against Ethereum Foundation has intensified over the past few days due to its lack of engagement in the Ethereum ecosystem and ETH sales. Lookonchain reported that the Ethereum Foundation offloaded another 100 ETH on Monday for about $336,000. The ETH sales, since January 2, 2024, have amounted to $13 million, or 4,666 ETH. DCinvestor, a strong advocate for the ecosystem, said Trump-backed World Liberty Financial is “more aligned with the success of Ethereum-based DeFi than the Ethereum Foundation is.” “Trump created a DeFi protocol team, they’re using Aave, they use Cowswap to sell proceeds of their sale into ETH. EF most of the time pretends like DeFi doesn’t exist because they are so afraid of playing favorites, they’d rather solely focus on the “world computer” narrative rather than acknowledge how the chain is being used,” said DCinvestor. “In order to be totally neutral, we literally cannot use the chain we are here to uphold and protect,” he criticized the foundation in a separate post. In response to DCinvestor, Josh Stark, a contributor to the Ethereum Foundation, stated that the foundation actively uses the Ethereum blockchain in its day-to-day operations. The EF is actively engaged with the Ethereum ecosystem through swapping ETH for stablecoins for operational purposes, making payments to grantees and team members in ETH and stablecoins, using the mainnet and layer 2 networks, as well as on-chain…
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