Ethereum Foundation Defended by Blockchain Researcher William Mougayar

Blockchain researcher and investor William Mougayar has defended the Ethereum Foundation, stating that its role has been misunderstood. According to Odaily, Mougayar emphasized that the foundation is fulfilling its mission accurately. Mougayar clarified that ETH, the Ethereum network, and the Ethereum Foundation are distinct entities. ETH is an asset, Ethereum is a shared computing infrastructure, and the foundation is a nonprofit organization focused on advancing the protocol. One of its goals is to make the founders less central over time. He noted that critics often expect the foundation to market ETH and attract institutional funds, which he compared to expecting the IETF to advertise TCP/IP during the Super Bowl. He highlighted that the foundation is currently on a path of 'subtraction,' strengthening the network by advancing protocol upgrades, funding foundational research, and reducing its centralization. Recently, the Ethereum Foundation faced criticism from the community for selling ETH, unstaking, and limited public communication. Data shows that this month, it completed its third OTC sale to BitMine Immersion Technologies, selling approximately 25,000 ETH, valued at around $47 million. Additionally, the foundation has unstaked over 38,000 ETH, with a total value nearing $90 million.