The founder of the Ethereum Community Fund (ECF) @0xzak is one of the co-founders of Corn, which recently launched but quickly dropped in value, disappointing the community.

He is also a well-known serial entrepreneur in the cryptocurrency space and a core developer of Ethereum. He is a co-founder of multiple projects and a key member of a token issuance group.

Interestingly, his initiation of the ECF stems from numerous grievances against the Ethereum Foundation (EF), hoping to do more to promote commercial value for the Ethereum community. However, one of his current projects, @0xbowio, is based on a paper by @VitalikButerin and is benefiting from the funding received by the foundation.

As @WutalkWu has made a structural judgment about the cryptocurrency industry in the coming years: that internet entrepreneurs and developers are withdrawing, while traditional finance and large corporations are stepping in.

Technical entrepreneurs like @0xzak, whose projects have not performed well, are seeing their reputations tarnished, and the market is no longer supporting these 'useless' tech projects, such as zk privacy and BTC L2.

Financial entrepreneurs are entering the scene, gaining industry influence, such as ETF institutions, RWA, stablecoins, and compliance license businesses. Traditional finance excels at government relations, obtaining licenses through these connections and excluding competitors.

Although Bitcoin, Ethereum, and Vitalik still uphold the foundational principles of this industry, the speculative entrepreneurs and foolish tech projects surrounding them have already alienated the community of believers.

We seem to have no choice but to accept this shift in the industry.