Ethereum Community Foundation raises millions, aims for $10K ETH: ‘You deserve better!’

Key Points

1. The ECF was launched to support Ethereum's growth and address gaps left by the Ethereum Foundation, with a mandate to prioritize ETH's price appreciation.

2. Zak Cole of the ECF emphasized Ethereum's role as the backbone of decentralized finance and stablecoins, calling ETH's rise to $10K a 'requirement'.

3. The ECF plans to fund credibly neutral, immutable, and tokenless infrastructure, including initiatives like the Ethereum Validator Association, to drive ETH's value.

4. Despite Ethereum's dominance in DeFi (55% TVL share), its price has struggled against Bitcoin, with ETH/BTC in a downtrend for nearly 30 months.

5. The ECF's first initiative focuses on giving Ethereum validators a say in development, leveraging staked ETH to advance the ecosystem.