The post Fresh Ethereum Foundation drama flares following core dev’s departure appeared on BitcoinEthereumNews.com. The Ethereum Foundation (EF) is facing more community backlash, this time in the wake of influential developer Dankrad Feist’s announcement that he was leaving to join payments-focused Tempo, backed by Stripe and Paradigm. The high-profile departure raised concerns about Ethereum’s ability to compete with VC-backed networks like Tempo, and sparked debate about whether the EF sufficiently values top talent. Dankrad has been an excellent researcher and has made immensely valuable contributions to the Ethereum that we know and love today, including Danksharding, consensus research and much more. Wishing him luck in his new efforts. https://t.co/dlSwu3fpen — vitalik.eth (@VitalikButerin) October 17, 2025 Read more: Ethereum Foundation’s response to community backlash — dump more ETH Tempo vs. Ethereum While Fiest’s post claims, “Ethereum and Tempo are strongly aligned,” observers don’t see it that way. One called the outcome “doubly bad,” given Feist’s focus on scaling solutions at the EF. Another predicts that Tempo will “ship faster, be quicker and have better distribution via Stripe’s integrations,” and that rather than competing on payments, Ethereum should focus on becoming “the cypherpunk chain.” I am excited to announce that I won’t be leaving Ethereum and will continue to devote all my energy to make Ethereum Cypherpunk again. — sudo rm -rf –no-preserve-root / (@pcaversaccio) October 17, 2025 Paradigm founder Matt Huang insists meanwhile that “Tempo will be a permissionless chain,” but will launch with a “permissioned validator set to get going and decentralize further from there.”  However, Columbia Business School’s Omid Malekan argues that “permissioned networks do not provide validators the plausible deniability required for a chain to be neutral” and transitioning from one to the other is unlikely. The bigger picture Since Friday, the debate has widened, drawing influential industry voices and even former EF collaborators. Polygon Foundation CEO Sandeep Nailwal weighed in, saying… The post Fresh Ethereum Foundation drama flares following core dev’s departure appeared on BitcoinEthereumNews.com. The Ethereum Foundation (EF) is facing more community backlash, this time in the wake of influential developer Dankrad Feist’s announcement that he was leaving to join payments-focused Tempo, backed by Stripe and Paradigm. The high-profile departure raised concerns about Ethereum’s ability to compete with VC-backed networks like Tempo, and sparked debate about whether the EF sufficiently values top talent. Dankrad has been an excellent researcher and has made immensely valuable contributions to the Ethereum that we know and love today, including Danksharding, consensus research and much more. Wishing him luck in his new efforts. https://t.co/dlSwu3fpen — vitalik.eth (@VitalikButerin) October 17, 2025 Read more: Ethereum Foundation’s response to community backlash — dump more ETH Tempo vs. Ethereum While Fiest’s post claims, “Ethereum and Tempo are strongly aligned,” observers don’t see it that way. One called the outcome “doubly bad,” given Feist’s focus on scaling solutions at the EF. Another predicts that Tempo will “ship faster, be quicker and have better distribution via Stripe’s integrations,” and that rather than competing on payments, Ethereum should focus on becoming “the cypherpunk chain.” I am excited to announce that I won’t be leaving Ethereum and will continue to devote all my energy to make Ethereum Cypherpunk again. — sudo rm -rf –no-preserve-root / (@pcaversaccio) October 17, 2025 Paradigm founder Matt Huang insists meanwhile that “Tempo will be a permissionless chain,” but will launch with a “permissioned validator set to get going and decentralize further from there.”  However, Columbia Business School’s Omid Malekan argues that “permissioned networks do not provide validators the plausible deniability required for a chain to be neutral” and transitioning from one to the other is unlikely. The bigger picture Since Friday, the debate has widened, drawing influential industry voices and even former EF collaborators. Polygon Foundation CEO Sandeep Nailwal weighed in, saying…

Fresh Ethereum Foundation drama flares following core dev’s departure

2025/10/21 22:02

The Ethereum Foundation (EF) is facing more community backlash, this time in the wake of influential developer Dankrad Feist’s announcement that he was leaving to join payments-focused Tempo, backed by Stripe and Paradigm.

The high-profile departure raised concerns about Ethereum’s ability to compete with VC-backed networks like Tempo, and sparked debate about whether the EF sufficiently values top talent.

Read more: Ethereum Foundation’s response to community backlash — dump more ETH

Tempo vs. Ethereum

While Fiest’s post claims, “Ethereum and Tempo are strongly aligned,” observers don’t see it that way. One called the outcome “doubly bad,” given Feist’s focus on scaling solutions at the EF.

Another predicts that Tempo will “ship faster, be quicker and have better distribution via Stripe’s integrations,” and that rather than competing on payments, Ethereum should focus on becoming “the cypherpunk chain.”

Paradigm founder Matt Huang insists meanwhile that “Tempo will be a permissionless chain,” but will launch with a “permissioned validator set to get going and decentralize further from there.” 

However, Columbia Business School’s Omid Malekan argues that “permissioned networks do not provide validators the plausible deniability required for a chain to be neutral” and transitioning from one to the other is unlikely.

The bigger picture

Since Friday, the debate has widened, drawing influential industry voices and even former EF collaborators.

Polygon Foundation CEO Sandeep Nailwal weighed in, saying he’s “started questioning my loyalty toward Ethereum.”

He describes feeling a “moral loyalty towards Ethereum” but claims that the community is a “shit show.”

Nailwal also points out hypocrisy: “When Polymarket wins big, it’s ‘Ethereum,’ but Polygon itself is not Ethereum. Mind-boggling.”

“Major” contributors “are forced to question or even regret their allegiance,” he lamented.

In June, Péter Szilágyi, former key developer for the Go-ethereum (Geth) client, criticized the EF after being fired.

He also weighed in on the current “existential crises,” copying a letter sent to leadership in May 2024. Many have focused on the comparatively low pay cited in the letter.

Read more: Ethereum Foundation under scrutiny as Geth dev speaks out on firing

Indeed, Szilágyi recognizes the predicament for workers who “set out to build something great, but we will readily shed all our principles the moment there’s (enough) money on the table.”

Last year, Feist and then-colleague Justin Drake came under scrutiny for conflicts of interest when announcing advisory roles at EigenLayer.

Read more: Ethereum Foundation blasted for EigenLayer conflicts of interest

Vitalik’s response

Vitalik Buterin has played peacemaker, noting Polygon’s successes as a network and Nailwal’s contributions, especially to philanthropic initiatives.

He also praised Feist’s “immensely valuable contributions” including the Danksharding scaling design.

Read more: Vitalik to Ethereum Foundation critics: ‘This is not how this game works’

Buterin fielded a wave of criticism early this year, which resulted in a shakeup of the foundation and a deployment of treasury funds across decentralized finance projects.

Despite the changes, this latest departure suggests that issues at the EF remain.

Got a tip? Send us an email securely via Protos Leaks. For more informed news, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

Source: https://protos.com/fresh-ethereum-foundation-drama-flares-following-core-devs-departure/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Wormhole launches reserve tying protocol revenue to token

Wormhole launches reserve tying protocol revenue to token

The post Wormhole launches reserve tying protocol revenue to token appeared on BitcoinEthereumNews.com. Wormhole is changing how its W token works by creating a new reserve designed to hold value for the long term. Announced on Wednesday, the Wormhole Reserve will collect onchain and offchain revenues and other value generated across the protocol and its applications (including Portal) and accumulate them into W, locking the tokens within the reserve. The reserve is part of a broader update called W 2.0. Other changes include a 4% targeted base yield for tokenholders who stake and take part in governance. While staking rewards will vary, Wormhole said active users of ecosystem apps can earn boosted yields through features like Portal Earn. The team stressed that no new tokens are being minted; rewards come from existing supply and protocol revenues, keeping the cap fixed at 10 billion. Wormhole is also overhauling its token release schedule. Instead of releasing large amounts of W at once under the old “cliff” model, the network will shift to steady, bi-weekly unlocks starting October 3, 2025. The aim is to avoid sharp periods of selling pressure and create a more predictable environment for investors. Lockups for some groups, including validators and investors, will extend an additional six months, until October 2028. Core contributor tokens remain under longer contractual time locks. Wormhole launched in 2020 as a cross-chain bridge and now connects more than 40 blockchains. The W token powers governance and staking, with a capped supply of 10 billion. By redirecting fees and revenues into the new reserve, Wormhole is betting that its token can maintain value as demand for moving assets and data between chains grows. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/wormhole-launches-reserve
Share
2025/09/18 01:55
Hong Kong Backs Commercial Bank Tokenized Deposits in 2025

Hong Kong Backs Commercial Bank Tokenized Deposits in 2025

The post Hong Kong Backs Commercial Bank Tokenized Deposits in 2025 appeared on BitcoinEthereumNews.com. HKMA to support tokenized deposits and regular issuance of digital bonds. SFC drafting licensing framework for trading, custody, and stablecoin issuers. New rules will cover stablecoin issuers, digital asset trading, and custody services. Hong Kong is stepping up its digital finance ambitions with a policy blueprint that places tokenization at the core of banking innovation.  In the 2025 Policy Address, Chief Executive John Lee outlined measures that will see the Hong Kong Monetary Authority (HKMA) encourage commercial banks to roll out tokenized deposits and expand the city’s live tokenized-asset transactions. Hong Kong’s Project Ensemble to Drive Tokenized Deposits Lee confirmed that the HKMA will “continue to take forward Project Ensemble, including encouraging commercial banks to introduce tokenised deposits, and promoting live transactions of tokenised assets, such as the settlement of tokenised money market funds with tokenised deposits.” The initiative aims to embed tokenized deposits, bank liabilities represented as blockchain-based tokens, into mainstream financial operations. These deposits could facilitate the settlement of money-market funds and other financial instruments more quickly and efficiently. To ensure a controlled rollout, the HKMA will utilize its regulatory sandbox to enable banks to test tokenized products while enhancing risk management. Tokenized Bonds to Become a Regular Feature Beyond deposits, the government intends to make tokenized bond issuance a permanent element of Hong Kong’s financial markets. After successful pilots, including green bonds, the HKMA will help regularize the issuance process to build deep and liquid markets for digital bonds accessible to both local and international investors. Related: Beijing Blocks State-Owned Firms From Stablecoin Businesses in Hong Kong Hong Kong’s Global Financial Role The policy address also set out a comprehensive regulatory framework for digital assets. Hong Kong is implementing a regime for stablecoin issuers and drafting licensing rules for digital asset trading and custody services. The Securities…
Share
2025/09/18 07:10