Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»ETHEREUM NEWS»Ethereum Foundation Considering Official Conflict of Interest Policy After Community Backlash
ETHEREUM NEWS

Ethereum Foundation Considering Official Conflict of Interest Policy After Community Backlash

By Crypto FlexsMay 25, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Ethereum Foundation Considering Official Conflict of Interest Policy After Community Backlash
Share
Facebook Twitter LinkedIn Pinterest Email

The Ethereum Foundation (EF) is considering implementing a formal conflict of interest policy following backlash against two prominent developers who joined EigenLayer as advisors.

Executive Director Aya Miyaguchi addressed the issue in a social media post, emphasizing the importance of maintaining trustworthy neutrality within the organization. She said the foundation is committed to sharing the community’s concerns and maintaining their trust.

Miyaguchi said:

“It is clear that relying on culture and individual judgment is not enough, and we have been preparing a formal policy for some time to address this issue. We will accelerate this work and will share updates soon.”

arguement

The controversy began on May 18 when prominent cryptocurrency trader Jordan Fish, known as Cobie, publicly questioned Ethereum co-founder Vitalik Buterin about the ethics of EF developers receiving significant financial incentives from projects built on the network.

Cobie’s tweet sparked widespread discussion on social media about potential conflicts of interest, specifically using EigenLayer as an example. He wrote:

“What do you think about key developers or researchers at the Ethereum Foundation becoming ‘advisors’ by bringing life-changing packages to Ethereum-based projects if their incentives may conflict with Ethereum now or in the future? For example, let’s assume EigenLayer, purely theoretically of course.”

Following Cobie’s tweet, Ethereum Foundation researcher Justin Drake disclosed his advisory role at EigenLayer on May 19. Drake said he received significant incentives in Eigen tokens, which are estimated to be worth millions of dollars over a three-year vesting period.

The disclosure raised concerns about transparency and potential conflicts of interest between EigenLayer and the Ethereum Foundation. Drake also stated that the information was made public on May 3 and that the timing of its release along with Kobe’s tweet was coincidental.

On May 21, Dankrad Feist, another Ethereum Foundation researcher, also disclosed his advisory role at EigenLayer. Feist, known for his “danksharding” work, confirmed that he had received a significant allocation of EIGEN tokens and assured the community that his advisory role would not affect his position on EigenLayer development.

Conflict of interest concerns

These disclosures raised questions about potential conflicts of interest, especially considering the systemic risk EigenLayer could pose to Ethereum. EigenLayer is a platform that allows users to deposit and “re-stake” Ether in a variety of liquid staking tokens to secure third-party networks or verified services.

Many blockchain experts have expressed concerns about the potential centralization and additional load placed on stakers by running a re-staking service.

Drake assured the community that all proceeds would be reinvested or donated to worthy projects within the Ethereum ecosystem, and promised to terminate the advisory if EigenLayer’s direction conflicts with Ethereum’s interests.

Feist emphasized in his disclosure that he would take an opposing view on EigenLayer to focus on risk and diversification. He wrote:

“I do not represent the Ethereum Foundation, but I take this position personally, with a strong focus on risk and diversification. I receive a decent amount of tokens from this position. I don’t believe they will change or influence my position on how the core protocol should be developed, but I do believe the community needs to know this so I can hold myself accountable.”

The Ethereum Foundation’s move to formalize its conflict of interest policy is an important step toward addressing community concerns and maintaining trust within the ecosystem. The Foundation will provide additional updates to the policy soon.

recent Alpha market report
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Asia Morning Briefing: SEC’s in -kind BTC, ETH ETF reduction shift occurred in Hong Kong a few years ago.

July 30, 2025

Ether Leeum validation exit exit queue will explode with 521,000 ETH ATH.

July 26, 2025

Altcoin benefits of capital rotation

July 22, 2025
Add A Comment

Comments are closed.

Recent Posts

Pepescape Crypto Presale Raises $1M As Ethereum Eyes $6K, Community-Owned Exchange Gigacex Unveiled

July 30, 2025

Midl Secures $2.4M Seed Investment From Draper Associates And Draper Dragon To Pioneer Native DApp Infrastructure On Bitcoin

July 30, 2025

LayerBTC starts $ LBTC ICO to power the new Bitcoin Layer 2 for Apps and Defi.

July 30, 2025

Asia Morning Briefing: SEC’s in -kind BTC, ETH ETF reduction shift occurred in Hong Kong a few years ago.

July 30, 2025

XRP Open Interests decrease by $ 2.4B after recent sale

July 30, 2025

Is it really possible to sell Memecoins?

July 29, 2025

Encryption Inheritance Update: July 2025

July 29, 2025

Charting the Course for the Future of Decentralized Platforms

July 29, 2025

Blockchain For Good Alliance Leads Global Digital Cooperation At UN IGF 2025

July 29, 2025

Queens Park Rangers And TokenFi Announces New Partnership

July 29, 2025

Onchain AI Agents Go Live With USDC & Coinbase X402

July 29, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Pepescape Crypto Presale Raises $1M As Ethereum Eyes $6K, Community-Owned Exchange Gigacex Unveiled

July 30, 2025

Midl Secures $2.4M Seed Investment From Draper Associates And Draper Dragon To Pioneer Native DApp Infrastructure On Bitcoin

July 30, 2025

LayerBTC starts $ LBTC ICO to power the new Bitcoin Layer 2 for Apps and Defi.

July 30, 2025
Most Popular

U.S. authorities identify and indict Russian leader behind LockBit ransomware group

May 7, 2024

Ethereum’s Pectra upgrade to improve wallet functionality and user experience

April 12, 2024

Japanese financial firm merges with Unbanked to expand digital liquidity initiatives

July 8, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.