From the Ethereum Foundation to the Community Foundation, is the community ultimately a goal or a means?

Author: Deep Tide TechFlow

July 1, Cannes, France.

On the stage of EthCC, Ethereum developer Zak Cole made a shocking declaration:

"ETH to $10k isn't a meme, it's a requirement!"

Translated, it means that ETH rising to $10,000 is not a meme, but a requirement.

As soon as he finished speaking, he announced the establishment of the Ethereum Community Foundation (ECF), a self-proclaimed community-focused foundation dedicated to pushing ETH to new heights.

The name of this soon-to-be-established organization easily brings to mind the more official Ethereum Foundation (EF), which differs by just one word.

Subsequently, Zak Cole stated in his speech that:

**"We say what the Ethereum Foundation (hereinafter referred to as **EF) is unwilling to say and do what they are unwilling to do. We serve ETH holders because you deserve better. Our North Star, our token Ticker, is ETH."

Applause and skepticism erupted simultaneously on the X platform; some cheered for a community awakening, while others mocked it as just another speculative gimmick.

Ethereum, the king that birthed DeFi, NFTs, and Layer 2 innovations, is facing a downturn in prices and pressure from competitors like Solana.

The 11-year-old Ethereum Foundation (EF), while promoting Ethereum's The Merge and Dencun upgrades, has also been criticized for high expenditures and alienating the community.

At this moment, shouting to serve the community and ETH holders, ECF's slogan is indeed timely, but saying and doing are completely different concepts.

What are the specific plans to push ETH to $10,000? How does it differ from EF?

Transparency and Empowerment Banner

From the content of the on-site speech, ECF's goals are clear and aggressive: to raise ETH prices, accelerate institutional adoption, and empower the community.

In broad terms, it will first increase ETH burn by funding high-transaction-volume projects (such as real asset tokenization), reducing circulating supply, and pushing ETH prices toward $10,000.

Secondly, ECF plans to provide easy Ethereum integration solutions for banks and enterprises, promoting Ethereum as a global settlement layer to attract traditional finance. Finally, it promises to give validators and the community more say in protocol development and funding allocation through the Ethereum Validator Association (EVA) and coin voting mechanisms.

In terms of specific strategies, ECF's execution revolves around those "immutable, non-token" projects.

It will prioritize funding high ETH consumption applications such as on-chain financial derivatives and real estate tokenization, ensuring that the EIP-1559 burn mechanism achieves maximum effect.

To attract institutions, ECF plans to collaborate with regulatory bodies to develop compliant on-chain solutions while investing in validator infrastructure, such as staking tools and node optimization, to enhance network security.

Moreover, transparency is its core selling point: all funding decisions will be made through community voting, and 100% of the funds will be publicly tracked, striving to distinguish itself from the "black box operations" of the Ethereum Foundation (EF).

If Unworthy, Take Its Place

In "Romance of the Three Kingdoms," Liu Bei entrusted his son to Zhuge Liang at the White Emperor City, saying: "If my son is capable, assist him; if he is unworthy, you may take his place."

This means that if my son is not talented, you can directly take his place.

Ethereum in 2025 stands at such a historical juncture.

The Ethereum Foundation (EF) seems like the incapable Liu Shan; will the Ethereum Community Foundation (ECF) be the loyal Zhuge Liang?

With the aforementioned combination of strategies, ECF is clearly targeting the official Ethereum Foundation --- Zak Cole's speech also hit EF's pain points: price stagnation, community alienation, and competitive losses.

The Ethereum Foundation (EF) was once a beacon for Ethereum, but this year we have seen more negative discussions about it. EF is indeed mired in internal and external troubles, with high expenditures, centralized decision-making, and market failures leading to community grievances.

In 2023, EF's expenditures reached $134.9 million, funding mainnet upgrades, zero-knowledge proofs, and other projects, yet it has faced criticism for a lack of transparency.

The community has also questioned the lack of funding allocation details and project progress in its Ecosystem Support Program, with decision-making concentrated in the hands of a few managers, contrary to the decentralized ethos.

In 2024, EF researchers Justin Drake and Dankrad Feist resigned due to controversies surrounding EigenLayer, further exposing conflicts of interest, with calls of "EF out of control" echoing on the X platform.

Internal restructuring and layoffs have further highlighted management difficulties.

In 2024, Ethereum's mainnet revenue saw a significant decline, with Layer 2 solutions (such as Arbitrum and Optimism) diverting transaction volumes, and the effect of EIP-1559's ETH burn diminishing due to reduced mainnet activity.

ETH prices failed to outperform Solana during the 2024-2025 bull market, as the latter excelled in transaction speed and low fees, while Binance Smart Chain also diverted some DeFi traffic.

In terms of institutional adoption, EF's neutral stance has slowed Ethereum's expansion in traditional finance, falling far behind Solana's partnerships with enterprises.

The community's disappointment has paved the way for ECF's appearance today.

Serial Entrepreneur Zak

While plans depend on people, whether ECF can bring ETH to $10,000 ultimately hinges on individuals.

However, the past of Zak Cole, this core developer, is like a double-edged sword, adding luster to his ambitions while casting a shadow over ECF's credibility.

He is a well-known serial entrepreneur in the industry, having co-founded several projects. Yet, the results of these ventures seem to contradict his current call to empower the Ethereum community.

The community often ends up as the injured party.

According to well-known leaker Crypto Brave on X, several of the larger projects Zak has been involved in have not performed well in the market.

For instance, BTC L2 Corn, which launched not long ago, has already lost value, and its airdrop strategy backfired on the community; while the ancient project ICON, which he participated in back in 2017, has seen its token nearly go to zero.

(Image source: X user Crypto Brave @cryptobraveHQ)

Of course, this is partly due to the overall downturn in the crypto market and the environmental issues of various narratives and projects being debunked, but it's hard to believe that a serial entrepreneur who has repeatedly started over will inject lasting effort into the Ethereum community.

The ambition of ECF to reach "ETH to $10k" still raises questions.

Its price-driven strategies, such as funding high-burn projects and institutional adoption plans (like collaborations with banks), may temporarily boost ETH value, but they also face speculative risks and centralization concerns.

After all, you never know if the next crypto project will be just a rebranded version of the last rug pull.

The crypto world is full of ups and downs; we have seen too many fluctuations, and often transparent promises are just slogans, and the community is merely a pawn caught in the ambitions of price.

Will this time be different?