Former Ethereum Foundation researcher Dankrad Feist proposed replacing the organization with a new group that would need at least $1 billion in ETH funding plus staking fees, focusing on raising ETH's price. Feist argued that the current Foundation holds less than 0.1% of all ETH and lacks revenue from staking or fees. He emphasized the need for a board that wants ETH to go up and a competent leader willing to fight. The remarks come amid resignations at the Foundation and frustration with Vitalik Buterin's vision. ETH has struggled to breach $5,000, currently trading around $2,100, down 57% from its peak. The Ethereum Foundation's new mandate in March stressed it is not a marketing agency nor focused on profit, which has drawn criticism. Feist left the Foundation last year to build Tempo, a private blockchain for Stripe.

Key facts

• Dankrad Feist proposes replacing Ethereum Foundation with a new org needing $1B+ in ETH.
• Feist criticizes EF holding <0.1% of ETH and lacking staking/fee revenue.
• Calls for a board wanting ETH price to rise and a competent, fighting leader.
• Resignations at EF and frustration with Vitalik Buterin's vision fuel the proposal.
• ETH price down 57% from peak, currently ~$2,100, failing to breach $5,000.

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