Former Ethereum Foundation (EF) researcher Dankrad Feist has proposed the creation of a new organization to support the Ethereum ecosystem, which would receive initial funding of $1 billion.
The way to save Ethereum: The community needs to create an organization that's economically aligned with Ethereum and accountable to it.
The EF now holds less than 0.1% of all ETH. There is no flow of Ethereum staking or fee revenues to it.
If we want to get Ethereum back to…
— Dankrad Feist (@dankrad) May 21, 2026
According to him, the organization aims to "save Ethereum."
Feist stated that the EF currently controls less than 0.1% of the ETH supply and does not receive a steady cash flow from staking or network fees. His vision for the new structure is that it should be economically aligned with Ethereum and accountable to the community.
He also suggested forming a council of individuals who "want ETH to grow" and appointing a "competent leader who is willing to fight."
Signs of Crisis at EF Intensify
This initiative comes amid criticism of the EF and a series of departures from the organization. In February, Tomas Stanczak left his position as co-executive director after less than a year. In April, Josh Stark concluded his five-year tenure on the foundation's leadership team.
In May, leading developers Barnabe Monnot and Tim Beiko left the organization’s technical division, while Alex Stokes took a "creative leave." Following that, two researchers—Karl Bick and Julian Ma—also departed.
Some in the community believe that the EF is too focused on ideological issues and complex technical upgrades instead of developing the ecosystem and promoting ETH. In its updated mandate, the organization emphasized a principle of minimal intervention in network development. Some statements in the document explicitly indicated the EF's reluctance to focus on increasing the cryptocurrency's value.
"Our main goal is not profit, not organizational growth, and not blind implementation at any cost," reads one section.
Feist left the EF in the fall of 2025 to join the development of the private blockchain Tempo from Stripe and Paradigm. This move puzzled some commentators, as the corporate network stands in ideological opposition to Ethereum.
Recall that in March, the EF presented a new vision for base layer roles and rollups, as well as a roadmap for protecting the network from quantum threats by 2029.