tech
How cryptocurrency’s second largest coin missed out on the industry’s boom
A leaked pitch to reshape Ethereum’s leadership exposed deep divisions over politics, power and ether’s static price
TL;DR
- Danny Ryan proposed a strategic shift for the Ethereum Foundation (EF) to take a stronger leadership role.
- Ryan's proposal was influenced by potential US political changes and the "crypto president" persona of Donald Trump.
- Ether's price has remained stagnant, leading to community pressure for leadership changes within the EF.
- Internal discussions and a public leak of Ryan's proposal sparked significant debate and social media reactions.
- Vitalik Buterin, Ethereum's founder, stated he is the ultimate decision-maker for EF leadership, condemning threats made against Aya Miyaguchi.
- The EF announced two new co-executive directors, Tomasz Stańczak and Hsiao-Wei Wang, signaling a move towards greater openness and engagement with the business world.
- The new EF leadership aims to be more responsive to institutions and foster real-world use cases for Ethereum.
- Danny Ryan co-founded Etherealize, an organization focused on building and marketing Ethereum-based products for traditional financial institutions.