Blockchain researcher defends Ethereum Foundation, says it’s ‘exactly’ doing its job

William Mougayar says critics are measuring the Ethereum Foundation by the wrong standard, claiming it was never meant to pump ETH or court institutions.

A blockchain researcher has pushed back against growing criticism of the Ethereum Foundation, arguing that the organization is doing “exactly” what it was designed to do, which the critics keep getting wrong.

In a post on X titled “Leave the Foundation Alone,” William Mougayar, a Toronto-based blockchain investor, researcher and best-selling author, argued that the EF is a protocol steward, not a marketing engine.

Mougayar said that ETH, Ethereum and the Ethereum Foundation are three separate entities with three separate trajectories. “The asset is money. The infrastructure is shared compute. The Foundation is a non-profit that is steering the protocol toward irrelevance for its own founders,” he wrote, adding that confusing the three leads to bad predictions and misplaced anger.

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