Former Ethereum Foundation researcher Dankrad Feist has proposed raising $1 billion to form a new Ethereum advocacy organization.

CoinFeed reported on May 22nd that, according to The Block, former Ethereum Foundation researcher Dankrad Feist published an article on the X platform proposing the formation of a new organization aligned with the Ethereum economy to "save" Ethereum. He argues that the Ethereum Foundation currently holds less than 0.1% of ETH, with no staking or fee revenue inflow. Therefore, the new organization needs to raise at least $1 billion, be managed by competent leaders, with some funding from staking revenue, and have a more responsible board of directors to drive up the price of Ethereum. Feist left the foundation last year to join the Layer 1 network Tempo.