Ethereum Foundation Considers Staking Nearly $1 Billion in ETH Holdings
The Ethereum Foundation is considering staking its approximately $1 billion worth of ETH holdings, as discussed by co-founder Vitalik Buterin. This comes amid criticism regarding the foundation's involvement in the Ethereum ecosystem.
- Josh Stark, a foundation contributor, defended its activities, mentioning the use of blockchain for token sales, event ticketing, and grants.
- Eric Conner suggested that staking ETH could provide funds for employee payments and grants.
- Buterin acknowledged past inactivity, citing regulatory risks and concerns about hard fork decisions as reasons.
- He noted that regulatory tensions have eased, allowing the foundation to evaluate Conner's staking proposal.
- Buterin is advocating for leadership changes within the foundation to enhance execution and innovation.
- Joseph Lubin proposed replacing current executive director Aya Miyaguchi with co-leaders Danny Ryan and Jerome de Tychey.
The foundation may soon reassess its operational strategies and leadership structure to increase effectiveness.