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Crypto

Ethereum insiders criticise foundation\'s execution as reason for weakness

An Ethereum ecosystem participant has blamed the Ethereum Foundation’s execution for the token’s weakness versus bitcoin since the Merge. Reid said the slump reflects accumulated product misjudgments and delayed execution rather than market cycles. He cited the ETH/BTC ratio decline, the lack of a native staking app, and reliance on Lido. He also criticised the rollup-led roadmap for weakening layer-1 revenue and said layer-2 networks built their own profit structures.

Crypto

Ethereum Foundation infighting spreads as Vitalik Buterin moves to cut influence

Ethereum co-founder Vitalik Buterin (비탈릭 부테린) has responded to sharp criticism over the Ethereum Foundation\'s role and operations. He rejected demands that the foundation defend token prices or step up marketing, saying priorities are censorship resistance, open source code, long-term research, cybersecurity and decentralisation. He said the foundation holds about 0.16 percent of ETH supply and will reduce ETH sales. The foundation is also overhauling governance to dilute individual influence.

Crypto

Aave joins DeFi partners to address $292 million KelpDAO hack

Aave has begun a joint recovery effort with major cryptocurrency firms under the slogan “DeFi United” to stabilise the DeFi lending market after a $292 million hack. The initiative focuses on covering the collateral shortfall for hacked rsETH. The incident stemmed from a vulnerability in KelpDAO’s LayerZero integration, enabling the minting of unbacked rsETH and borrowing of about $190 million in assets. Aave’s total value locked fell by $10 billion after the attack.