"Ryan, who had worked for seven years at the Ethereum Foundation (EF), Ethereum's de facto governing body, suggested that Ethereum could be on the cusp of an era-defining shift. Since its founding in 2014, the foundation had prioritized technical upgrades and had avoided centralizing power while its user base was growing, but Ethereum had now grown up, and the cryptocurrency world around it had grown up, too."
"Ryan told the Guardian that he could see how political tides were changing overnight, which informed his proposal. In part, his thesis drew from personal experience: He'd been served by the Securities and Exchange Commission (SEC) in March 2024, only to have the case summarily dropped, which he suspects was a pragmatic move to avoid alienating the tech sector during Joe Biden's re-election campaign."
The Ethereum Foundation prioritized technical upgrades and avoided centralizing power while the user base grew. Ethereum and its surrounding cryptocurrency ecosystem have matured. The Foundation can exercise a stronger voice without compromising decentralization, and leadership change could enable that shift. Personal regulatory experiences influenced strategic thinking: a Securities and Exchange Commission enforcement action in March 2024 was served and later dropped. A return of Donald Trump, heavily supported by crypto fundraising, presents policy and market opportunities. A pro-crypto US administration could ease expansion of the crypto industry into traditional finance, potentially benefiting Ethereum’s adoption and economic prospects.
Read at www.theguardian.com
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