EddieJayonCrypto
27 Jan 25
The Ethereum Foundation (EF) has established a multisig wallet to participate in the decentralized finance (DeFi) ecosystem, initiating a transfer of 50,000 ETH worth approximately $165.3 million into the wallet. The wallet uses a 3-of-5 multisig configuration managed via Safe. The EF faces concerns...
The Ethereum Foundation (EF) has established a multisig wallet to participate in the decentralized finance (DeFi) ecosystem, initiating a transfer of 50,000 ETH worth approximately $165.3 million into the wallet. The wallet uses a 3-of-5 multisig configuration managed via Safe. Ethereum co-founder Vitalik Buterin acknowledges underperformance and competition concerns and confirms major changes to reshape the foundation's leadership structure. Ethereum co-founder Joseph Lubin proposes a dual-leadership structure for the foundation's future direction. The organization faces concerns regarding its lack of transparency in treasury management and has refrained from staking its ETH to earn rewards due to regulatory implications. Leadership reforms are underway to enhance the foundation's technical expertise, strengthen collaboration with key participants, and provide more active support for application developers. The article also includes a sponsored special offer for Binance and Bybit users, encouraging readers to register accounts to receive exclusive welcome offers. The Ethereum Foundation's participation in the DeFi ecosystem aims to address concerns about its lack of transparency and underperformance, while leadership reforms seek to reshape the organization's direction. The article is authored by Wayne Jones, a part-time trader with an interest in blockchain technology and cryptocurrencies. The footer includes additional editorials and a newsletter sign-up, as well as disclaimers and copyright information.