⚠️ALERT: ETHEREUM'S $30 MILLION A YEAR DEV BUDGET IS ABOUT TO DRY UP
Former Etherum Foundation contributor Trent Van Epps warns $ETH's core development could face a funding crisis within 3 to 9 months.
The Client Incentive Program that funded those teams expired in April with no replacement.
The EF is also cutting its own treasury spending from 15% to 5% a year.
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 winning:
- create an organisation with credible funding, minimum $1b as a start. That's very reasonable for an ecosystem with $250b market cap
- find a leader who is competent and wants to fight
- make it accountable: a board of people who want ETH to go up, and a charter that holds the org accountable to it
- fund it permanently: A significant amount of staking revenue needs to go to it. A governance mechanism that can adjust it (also part of accountability).
Very hard to imagine now, but I think this is the only way (and it will probably happen, but it might take a long time before it is consensus).
Agree with @RyanSAdams that a deep bench of leaders and developers are ready to ensure $ETH remains the future settlement layer of finance and AI
- to me, much of bearish sentiment reflects the disdain and despair seen at the nadir of crypto winter (finger pointing at the lows)
Blockchain is arguably the only way agentic AI interacts in commerce. And blockchain vastly improves the profit profile of the financial system
$ETH @BitMNR
$BMNR
🚨 Tom Lee on Decrypt:
Crypto winter is either already over or will wrap up by April at the latest!
Are you guys thinking spring is incoming or more pain? 😂
$ETH $BMNR
JUST IN: 🇺🇸 Fed Chair Jerome Powell warns US national debt is growing "substantially" faster than the economy and says it's not sustainable.
"It will not end well if we don't do something fairly soon."
BREAKING: Cathie Wood is adding OpenAI to $ARKK, $ARKF, and $ARKW
Each fund will hold a roughly 3% stake, giving retail investors direct exposure to one of the most sought-after private companies in the world