A well-known Ethereum developer, Zak Cole, has just launched a new group called the Ethereum Community Foundation (ECF) — and one of its main goals is to help push ETH’s price to $10,000.
🛠️ Why ECF Was Created
Zak Cole announced the ECF during the Ethereum Community Conference in Cannes, France. He said he created this group because the original Ethereum Foundation (EF) isn’t doing enough to support ETH as an investment.
“We’re doing what the Ethereum Foundation won’t,” said Cole.
“We’re here for ETH holders — because you deserve better.”
The ECF will fund projects that:
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Burn ETH through on-chain activity
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Improve Ethereum’s core infrastructure
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Help Ethereum scale
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Focus on public goods with no tokens and no VC backing
🔥 ETH Burn = Higher Price
Cole believes ETH’s price is linked to Ethereum’s security. More on-chain activity means more ETH gets burned, which can make the token more scarce — and help push up the price.
That’s why only projects using the Ethereum mainnet (not other chains or layer-2s) will be supported — so ETH gets burned with every transaction.
🧨 Calling Out the Old Guard
Zak Cole criticized some popular projects like:
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Uniswap
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Ethereum Name Service (ENS)
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Optimism
He said they received support from the Ethereum Foundation but later launched VC-backed tokens — something that, in his view, betrays the Ethereum community.
“If a project is paid for by the public, it should benefit the public,” Cole argued.
🗳️ First ECF Grant: Ethereum Validator Association (EVA)
The first ECF grant goes to the Ethereum Validator Association (EVA).
EVA gives validators a voice in shaping:
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Ethereum’s monetary policy
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Which Ethereum Improvement Proposals (EIPs) get prioritized
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Which Ethereum software clients get more support
Validators will now have more say in how the Ethereum network evolves — instead of just following decisions made by a few developers or private companies.
Cole also warned of a conflict of interest: the team behind Arbitrum (Offchain Labs) has a stake in Prysmatic Labs, which runs Prysm — the second biggest Ethereum client.
🚀 Summary
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Zak Cole launches the Ethereum Community Foundation (ECF)
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Goal: push ETH to $10,000 and support the Ethereum network
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Focus on ETH burn, public infrastructure, and tokenless projects
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First grant: Ethereum Validator Association to give more power to validators
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Cole criticizes old Ethereum projects for putting VC profits over the public good
Disclaimer: This article is only for
information and not financial advice. The opinions shared here may be the
writer’s personal views. Please do your own research before making any
investment choices. We are not responsible for any money you may lose.
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