Multicoin Founder: Ethereum brought me into the circle 8 years ago, but the foundation's attitude of slacking off has caused users to lose confidence.

Multicoin Capital co-founder Kyle Samani today criticized the Ethereum Foundation's negative attitude and lack of urgency in scaling the problem, which has long made him lose faith in Ethereum. (Synopsis: No Love.. Ethereum core developers: the foundation is out of touch with the community and has lost its enthusiasm for ETH) (Background supplement: The community forced the Ethereum Foundation director to step down, Vitalik exploded: the decision is in my hands, outsiders shut up) The Ethereum community has recently been dissatisfied with Ethereum's market performance and the Foundation's continuous dumping of ETH's fund management, which has disappointed investors in the context of failing to effectively promote ecological innovation. In order to save Ethereum from decline, Ethereum co-founder Vitalik Buterin recently announced that he is making major changes to the Ethereum Foundation's leadership structure and exploring ways to address the foundation's coin selling needs through stake to calm community anger. Commenting on Ethereum's current predicament, Multicoin Capital co-founder Kyle Samani said today that he entered the crypto world through Ethereum in 2016 and was attracted by its vision of permissionless finance and smart contracts, Ethereum being his first meaningful source of wealth, and Ethereum Market in 2017 Cap was 100x big pump in one year, setting a record for the fastest $100 billion Market Cap in history. Ethereum was my entry into crypto in 2016. I fell in love with the vision for permissionless finance and smart contracts. ETH was my first meaningful source of wealth In 2017 Ethereum was the center of crypto. Up 100x in a year. ICOs. Future of finance. Gas fees spiking.... — Kyle Samani (@KyleSamani) January 21, 2025 Kyle Samani lamented that Ethereum was once the king of the world, but Ethereum had an obvious problem: scaling. He recalls that at Devcon 3 in November 2017, he was disappointed that Vitalik Buterin's keynote address didn't mention scaling options at all: The talk didn't even try to solve the scaling problem. After listening to the speech, I was very disappointed. I can't understand how the Ethereum Foundation could be so completely ignorant. How can they ignore what's happening around them and come up with a credible plan with a concrete and positive timeline? This is your annual developer conference, this is the venue dedicated to sharing the project, this chain has a $100 billion Market Cap, all thanks to this project, how can you not even try to solve this obvious problem? Kyle Samani points out that Devcon 3 was the moment he lost faith in Ethereum, and seven years later, the Ethereum Foundation still suffers from a disconnect between leadership and user needs and a lack of clarity on where to go. The remarks also resonated with the community, with some netizens pointing out that to be fair, V God had talked about scaling up at the time, admitting that Ethereum was too expensive and slow, but in recent years, the foundation has abandoned all the solutions it originally promised, and now only expects the L2 system to solve all the problems of the ecosystem, criticizing that "this is either a naïve idea, or they have given up solving the problem." Eric Conner left disappointed Recently, the Ethereum Foundation has been in turmoil, although the Ethereum Foundation leadership structure is undergoing major reforms, but the community's frustration with the Ethereum Foundation has not been eliminated, Ethereum core developer and EIP-1559 co-author Eric Conner even announced his withdrawal from the Ethereum community on the 21st. It reflects the deep disagreement within the current community over the governance model and direction of the Ethereum Foundation. Ethereum Foundation Allocates 50,000 ETH to Participate in Decentralized Finance, Has Executed Test Transaction in Aave Vitalik: Consider stakeEthereum to Address Foundation Criticism of Selling ETH, but To Address Both Concerns Lack of Blob space, Ethereum L2 is on the verge of collapse? How to explain "Multicoin founder: Ethereum brought me into the circle 8 years ago, but the foundation's rotten attitude has made users lose confidence" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".