Former Ethereum Foundation (EF) researcher Dankrad Feist has proposed the creation of a new organization to support the Ethereum ecosystem. The structure is to 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 is intended 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 tied to Ethereum and accountable to the community.
He also suggested forming a council of people who “want ETH to grow” and appointing a “competent leader who wants to fight.”
Signs of Crisis in EF Intensify
The initiative comes amid criticism of the EF and a series of departures from the organization. In February, Tomasz Stanczak left his position as co-executive director, which he held for less than a year. In April, Josh Stark ended his five-year career in the foundation’s leadership team.
In May, leading developers Barnabé Monnot and Tim Beiko resigned from the organization’s technical division, and Alex Stokes took a “creative break.” Subsequently, two researchers left the organization — Karl Bick and Julian Ma.
Part of the community believes that the EF is too focused on ideological issues and complex technical improvements instead of ecosystem development and promoting ETH. In its updated mandate, the organization enshrined the principle of minimal intervention in network development. Some tenets of the document explicitly indicated the EF’s reluctance to focus on increasing the cryptocurrency’s value.
“Our main goal is not profit, organizational growth, or blind implementation at any cost,” one section states.
In the autumn of 2025, Feist left the EF and joined the development of the private blockchain Tempo by Stripe and Paradigm. This move puzzled some commentators, as the corporate network is an ideological antithesis to Ethereum.
In March, the EF presented its new vision for the roles of the base layer and rollups, as well as a roadmap for protecting the network from quantum threats by 2029.