An Ethereum core developer, Zak Cole, has launched the Ethereum Community Foundation (ECF) to elevate Ether's price to $10,000. Announced at the eighth Ethereum Community Conference in Cannes, Cole criticized the Ethereum Foundation for neglecting ETH as an asset class. The ECF plans to fund projects that enhance the Ethereum ecosystem and increase ETH's value. Cole stated, "We are the Ethereum Community Foundation. We say what the [Ethereum Foundation] can’t, we do what the [Ethereum Foundation] won’t." The ECF will provide grants to projects that promote ETH burn, public goods, and core infrastructure, requiring them to use Ethereum as their settlement layer. Cole also pointed out that publicly funded projects should remain beneficial to the community. The Ethereum Validator Association (EVA) is the first to receive a grant, allowing validators to influence Ethereum's monetary policy. Cole raised concerns about potential conflicts of interest involving Offchain Labs and Prysmatic Labs, emphasizing the need for transparency in the ecosystem. Read more AI-generated news on: https://app.chaingpt.org/news

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