Ethereum Foundation sells 5,000 ether to Tom Lee’s BitMine in $10.2 million deal
The funds will support the EF’s core operations, including protocol R&D and ecosystem grants, as part of a treasury strategy to balance ETH and fiat-like assets.
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Ethereum Foundation
The funds will support the EF’s core operations, including protocol R&D and ecosystem grants, as part of a treasury strategy to balance ETH and fiat-like assets.
The document comes at a point of transition for the organization, following shifts in the blockchain’s technical roadmap and the resignation of a co-executive director.
Hsiao-Wei Wang and Tomasz Stańczak will be the new co-executive directors, as Aya Miyaguchi transitions into the organization’s President. Also, ex-EF researcher Danny Ryan shares that he is joining Etherealize.
Miyaguchi shared in a blog post that she will stay at the foundation and serve as its new president.
Buterin labeled inflammatory X posts about the head of the Ethereum Foundation as “pure evil.”
Screenshot from Justin Drake appearance at the Ethereum conference Devcoin in 2022. (Devcon/YouTube)
The Ethereum community is debating the power and responsibilities of the Ethereum Foundation, which some think is playing central banker by suggesting changes to the ether issuance formula.
The proposal, initially introduced in February, could harden Ethereum’s native cryptocurrency, ether, as as a form of money – by reducing the inflation of new supply. But some members of the community say if it’s not broke, don’t fix it.
Reports suggest the SEC may be about to categorize ETH as a security, with huge implications for the blockchain’s future. Here’s why the SEC would be wrong.