TLDR:
Ethereum co-founder Vitalik Buterin announced major restructuring plans for Ethereum Foundation (EF), prompting community debate
Lido founder Konstantin Lomashuk shared a “Second Foundation” X profile but clarified no such entity exists yet
EF faces criticism over its ETH selling decisions and rollup-centric roadmap
Community members expressed support for Lomashuk potentially leading a new Ethereum-focused organization
Lido currently controls 28% of staked ETH, making it Ethereum’s largest validator
Ethereum co-founder Vitalik Buterin recently outlined plans for substantial changes within the Ethereum Foundation (EF). In a January 21 post, Buterin emphasized that Ethereum’s future is decentralized and that the EF represents just one part of the broader ecosystem.
The restructuring announcement came amid criticism of the foundation’s recent decision to sell ETH to cover operational expenses. Community members argued that alternative approaches, such as staking or reducing transactions, could have been more effective strategies for managing costs.
Buterin addressed calls for leadership changes, including demands for Executive Director Aya Miyaguchi’s resignation. He rejected these demands while acknowledging the need for some personnel adjustments, maintaining his role in EF leadership decisions.
The situation took an unexpected turn when Lido founder Konstantin Lomashuk shared an X profile called “Second Foundation.” This development sparked immediate speculation about the creation of an alternative organization to support Ethereum’s growth.
However, Lomashuk quickly clarified that no such entity has been established yet. “No actual second foundation has been created yet,” he posted on X. “Ethereum is the ultimate world computer, and every Etherean can help it grow, evolve and succeed.”
👀 https://t.co/o1pgQ8J3mC
— Konstantin Lomashuk cyber/acc (@Lomashuk) January 22, 2025
Despite the absence of a formal organization, several prominent community members expressed support for Lomashuk’s potential leadership of a new Ethereum-focused entity. Gabriel Shapiro, founder of MetaLeX Labs, praised Lomashuk as “one of the highest-integrity founders/investors in the space.”
José Maria Macedo, co-founder of Delphi Labs, endorsed Lomashuk’s capabilities, stating, “If Vitalik is the prophet, Konstantin is the prince. A strategic thinker/visionary who deeply understands crypto and executes relentlessly.”
The discussion around a potential second foundation highlights existing concerns about centralization within the Ethereum ecosystem. Lido, Lomashuk’s liquid staking protocol, currently controls approximately 28% of Ethereum’s staked ETH, making it the network’s largest validator.
Matthew Sigel, head of digital assets research at VanEck, supported the idea of diversifying leadership, stating there is no reason for EF to be the only entity responsible for directing Ethereum’s future.
The foundation has faced increasing pressure over the past year to define a clearer vision for Ethereum’s future, particularly as competing networks like Solana advance. Critics have specifically targeted the EF’s “rollup-centric” roadmap, which prioritizes layer-2 networks for faster and cheaper transactions.
Stani Kulechov, founder of Avara Labs, called for a “better, faster, stronger EF path with a tight scope,” suggesting less emphasis on internal politics and neutrality in favor of rapid technological advancement.
Buterin has also addressed social media pressure campaigns by various community figures, expressing concern about their impact on Ethereum’s culture and ability to retain talent.
In December, Lomashuk had previously discussed the concept of a “Second Foundation” on X, describing it as a means to create competition between different groups and provide choices for the community.
Martin Köppelmann, a prominent Ethereum developer close to Lomashuk, confirmed that the “Second Foundation” proposal is genuine, stating that Lomashuk is “certainly seriously thinking about it” with the goal of improving Ethereum’s scalability.
