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Ethereum Foundation Evaluates Staking $1 Billion ETH to Mitigate Risks, Says Buterin
The Ethereum Foundation has announced plans to reevaluate its stance on staking, with a proposal to allocate $1 billion in ETH assets towards this strategy. This move comes amid mounting criticism over the foundation’s lack of active participation in the Ethereum ecosystem and allegations that it is not doing enough to support the network.
In an interview, Vitalik Buterin, one of the co-founders of Ethereum, explained that the decision was prompted by concerns about regulatory risks and the need to take a position in case of a network hard fork. However, he noted that these concerns have decreased, paving the way for a potential shift in strategy.
Buterin emphasized that the foundation’s primary focus remains on supporting grants and funding projects that align with its goals, but added that staking could be a viable option to generate income that could then be used to fund salaries and grants. This move would aim to mitigate risks associated with the current market situation.
The proposal has garnered significant attention from the crypto community, particularly given the foundation’s previous stance on not engaging in staking. Critics have argued that the lack of active involvement is detrimental to the network’s progress.
It’s worth noting that the Ethereum Foundation has faced criticism for its role in the ecosystem and recent statements by the organization’s leadership regarding its financial allocation.
Source: crypto-economy.com
