Ethereum’s Leadership: A Comedy of Errors or a Path to Glory?

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In the grand theater of cryptocurrency, where fortunes are made and lost with the flick of a digital coin, the Ethereum Foundation finds itself in a rather precarious position. It seems the esteemed leaders, once basking in the glow of their own brilliance, are now shifting their gaze toward a more founder-driven growth strategy, perhaps in a desperate attempt to appease the restless investors and builders who have taken to grumbling like a pack of hungry wolves.

Haseeb Qureshi, the managing partner of Dragonfly Capital, has recently emerged from the shadows of ETH SF, proclaiming a newfound optimism about Ethereum. “There’s a real urgency,” he declares, as if he has just discovered the last slice of cake at a party. “They understand that things need to change.” Indeed, it is not 2020 anymore, and the Ethereum leadership seems to have finally noticed that the world has moved on, leaving them behind like an old coat in a thrift shop.

“After meeting with several EF people at ETH SF, I’m more optimistic about Ethereum. They want Ethereum to matter.”

— Haseeb ＞|＜ (@hosseeb) March 17, 2025

In his latest missive on X, Qureshi reveals that the Ethereum Foundation is now contemplating how to replicate the success of Solana’s Superteam—a veritable army of operators, developers, and grantees who have taken the Solana ecosystem by storm. One can only imagine the brainstorming sessions, filled with fervent discussions about capital formation and founder journeys, while research takes a backseat, perhaps enjoying a leisurely ride through the countryside.

“Ethereum leadership have been getting a lot of criticism, and it’s important that you all know this — it’s working. They’re listening. They’re thinking hard about how to adapt. It’s a teachable moment for them.”

— Haseeb Qureshi

Yet, as the Ethereum ship attempts to navigate these choppy waters, it faces criticism from within its own ranks. Former engineer Harikrishnan Mulackal has voiced concerns about the network’s governance, lamenting its “lack of a clear and cohesive vision.” Without stronger leadership, he warns, Ethereum risks stagnation, suggesting that they should aim for “one hard fork each quarter.” Otherwise, they may find themselves trapped in a time loop, endlessly repeating the same mistakes of the past five years, like a bad sitcom that refuses to be canceled.

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2025-03-18 12:06