CryptoWorld News reports that David Hoffman, co-founder of Bankless, stated that the Ethereum Foundation (EF) is intentionally aiming to leave a “power vacuum” so that a new organizational structure can step forward and influence Ethereum’s future development direction. He said that the direction represented by ETH Labs could be Ethereum’s most promising future path, and noted that he will continue to support its development. Previously, Hoffman had publicly said that he had sold all of his ETH, claiming that the “ETH is money” narrative has largely come to fruition and that the success of the Ethereum network may not be fully reflected in the price of ETH assets.

ETH-5.56%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • 1
  • Share
Comment
Add a comment
Add a comment
YieldGoblin
· 18m ago
Bankless is also transforming itself, this move is basically to give ETH Labs a platform and boost traffic.
View OriginalReply0
StardustRouter
· 4h ago
He sells his ETH, then turns around to support ETH Labs—this move is familiar to me: get out first, then shout the new narrative.
View OriginalReply0
LittleBearWatchingTheMarket
· 4h ago
David, this is clearly stirring things up. Whether ETH Labs can take the lead depends on whether the community is on board or not.
View OriginalReply0
RugPullEnjoyer
· 5h ago
The term "power vacuum" is used brilliantly, but it's hard to say who will fill it, as too many vested interests are watching.
View OriginalReply0
Salt-BakedSentimentChart
· 5h ago
Is EF voluntarily stepping down to make way? It sounds like a Republic of Virtue, but in reality, it might be a cover for multi-party power struggles.
View OriginalReply0
GateUser-a9315d81
· 5h ago
ETH has been converted into cash, but the price hasn't kept up; this paradox is really painful.
View OriginalReply0