Ethereum Foundation Under Fire: Who Really Runs the Show?
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Tensions within the Ethereum ecosystem are rising after Péter Szilágyi, former lead developer of Geth, publicly questioned the concentration of power at the Ethereum Foundation.
In a letter shared this week, Szilágyi claimed that a small group of insiders, supported by just a handful of venture capital firms, dominates decision-making and influences which projects succeed.
Szilágyi suggested that relationships with co-founder Vitalik Buterin and the inner circle often outweigh merit or innovation. He also pointed to a stark gap in compensation: while Ethereum’s market value skyrocketed into the hundreds of billions, his six-year tenure at the Foundation earned him only about $625,000.
Other industry figures echoed the concerns. Polygon co-founder Sandeep Nailwal admitted he’s reconsidering his loyalty to Ethereum, citing limited support from the Foundation, while Sonic Labs’ Andre Cronje criticized the lack of communication from leadership.
Vitalik Buterin, though not responding directly to the criticisms, praised Polygon’s contributions to Ethereum’s development, particularly in zero-knowledge solutions and infrastructure projects.
The controversy comes as the Ethereum Foundation navigates restructuring, including developer layoffs and a revised strategy for managing its ETH reserves. Observers say these internal debates highlight broader questions about governance, transparency, and power dynamics in major crypto ecosystems.
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