Ethereum Foundation Defenders Argue Critics Misunderstand Organization's Role

A group of Ethereum Foundation defenders is pushing back against recent criticism from within the community.

Their argument centers around the idea that critics are confusing three separate entities: ETH, the native cryptocurrency; Ethereum, the decentralized infrastructure; and the Ethereum Foundation, the non-profit organization responsible for its development.

According to William Mougayar, a Toronto-based blockchain researcher and investor, the foundation's role is not to engage in promotional activities or manage institutional investments. Instead, it should focus on hardening the protocol, funding research, and gradually reducing its own centrality in the network.

Joseph Chalom, CEO of SharpLink, makes a parallel argument focusing on the token itself. He believes that ETH's underperformance is due to macroeconomic conditions rather than any structural flaw in the network's value flow mechanism.

Chalom draws an analogy with Amazon's early years, when the company prioritized building commerce infrastructure over short-term profitability. Similarly, Ethereum is investing in tokenization and may eventually capture a significant share of the global tokenized asset market.