Ethereum Community Foundation Launches With $10K ETH Mandate

July 8, 2025 – A bold new initiative has emerged in Ethereum’s ecosystem. The Ethereum Community Foundation (ECF), spearheaded by Ethereum core developer Zak Cole, has launched with a singular mission: push the price of ETH to $10,000.

Unveiled at the Ethereum Community Conference (EthCC) in Cannes, the ECF says it will achieve this target by issuing grants to projects that increase ETH burns, improve Ethereum infrastructure, and deliver public goods. Its first grant went to the Ethereum Validator Association (EVA) — a group aiming to give validators more control over Ethereum’s monetary policy and core upgrades.

What Makes This Different?

Unlike the existing Ethereum Foundation, the ECF has no ties to Vitalik’s group. Zak Cole said the ECF “serves ETH holders” and added:

“We say what the Ethereum Foundation can’t, and do what they won’t.”

The ECF will only fund projects that:

• Use Ethereum as a settlement layer (burning ETH in the process)
• Are tokenless and immutable
• Serve long-term ecosystem goals without relying on venture capital

This move is part of a broader effort to realign Ethereum development with ETH holders’ interests — rather than external investors.

Controversy: Public Funds, Private Tokens?

The ECF has publicly criticized the Ethereum Foundation for supporting projects like Uniswap, ENS, and Optimism, which later launched tokens backed by VC firms.

It also pointed to Offchain Labs’ stake in Prysmatic Labs, which maintains Prysm — Ethereum’s second-largest consensus client — as a conflict of interest.

Critics argue that projects funded by public goods grants should benefit users — not investors.

Social Buzz and Market Reaction

On X (formerly Twitter), the ECF’s hard stance has sparked mixed reactions. Some praised the initiative for prioritizing ETH holders. Others worried it could fragment Ethereum governance at a sensitive time.

Regardless, the goal is clear: restore focus on ETH’s price, utility, and ecosystem strength.

Did You Know?

Zak Cole, founder of the Ethereum Community Foundation, is also the co-founder of Whiteblock, a blockchain infrastructure testing company that once collaborated with the Ethereum Foundation on ETH 2.0 simulation tests.