PANews, May 24: According to Cointelegraph, blockchain researcher and investor William Mougayar publicly defended the Ethereum Foundation, stating that it has fully fulfilled its design mandate and that critics have long measured the organization against inappropriate standards. Since May, the Ethereum Foundation has sold a total of 25,000 ETH (approximately $47 million) and unbonded over 38,000 ETH (approximately $90 million), compounded by a 57% drop in ETH price from its all-time high, leading to intense backlash from the community. Mougayar emphasized that ETH, the Ethereum network, and the Ethereum Foundation are independent entities; as a nonprofit organization, the Foundation’s core mission is to de-emphasize its own centralized role and strengthen the protocol—not to inflate token prices or cater to institutional interests.
Blockchain Researcher Defends Ethereum Foundation’s Operations Amid ETH Price Decline
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Summary
Ethereum’s price today remains under pressure after falling 57% from its peak. Blockchain researcher William Mougayar has defended the Ethereum Foundation’s recent actions, including the sale of 25,000 ETH and the unstaking of 38,000 ETH. Critics argue these moves exacerbated ETH’s price weakness. Mougayar clarified that the nonprofit’s focus is on protocol development, not market performance. The Ethereum Foundation continues to prioritize decentralization over short-term ETH price gains.
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