CryptoQuant CEO Ki Young Ju has expressed his support for Vitalik Buterin’s idea of overhauling the leadership of the Ethereum Foundation. Ethereum co-founder Vitalik Buterin, took to his X handle to announce several changes that the EF leadership will undergo, citing the need to improve technical expertise and communication between the foundation and builders on Ethereum.
Buterin detailed several changes being looked at, including providing support for decentralized application (dApps) developers and promoting decentralization, and privacy. The Ethereum boss also mentioned ideological shifts, while noting that there will be a central role towards the development of the Ethereum ecosystem. The move is coming after several actions of the Ethereum Foundation were called into question by members of the community.
CryptoQuant CEO drums support for EF leadership overhaul
According to his post on X, Ki Young Ju highlighted his support for Vitalik Buterin’s stance on the way forward for the Ethereum Foundation. He said that it is a better way forward, as it prioritizes value over making money, noting that Ethereum’s price may suffer for a while because of the changes. “I’m with Vitalik on this one, even though I think $ETH might underperform. He just chose creating value over making money,” he said.
I’m with Vitalik on this one, even though I think $ETH might underperform. He just chose creating value over making money.
This industry is on the verge of crossing the line into a grifter’s playground under brutal capitalism. Keeping our sanity here is extremely challenging.… https://t.co/VfbnW6UZ9F
— Ki Young Ju (@ki_young_ju) January 19, 2025
In his post, Ju emphasized the need to put creating value over making money. He mentioned that the crypto market is currently heading into a territory under brutal capitalists, noting that it should always be about creating value and not scamming people.
Furthermore, he highlighted that strong philosophies have historically won, it just takes time. Using Bitcoin as an example, he noted that if cypherpunks can do it with Bitcoin, other products will win in the crypto industry.
Crypto community reacts to market frenzy
Ki Young Ju’s comments on taking value creation ahead of the price of the asset caused quite a stir among members of the crypto community. According to a user on X, the price of an asset automatically means that the product is good. Talking about the recent TRUMP meme coin and its subsequent surge, the user remarked that the price of an asset is the best value creation.
Ju was quick to point out that most of the tokens from the 2018 ICO are nowhere to be found, noting they if they had actual value outside their price, they would have stood the test of time. Replying to the user’s comments about the community being the product, Ju stressed that it only happens during the bull market. “A community is a product in a bull market, but it collapses in a bear market. DAOs are gone for this reason. XRP, ADA, and meme communities are only active in bull markets. A community is not a product in a bear market,” he added.
Meanwhile, the market has been thrown into a wild frenzy with several tokens seeing massive surges amid the launch of the Donald Trump-linked memecoin TRUMP. The token, which was launched on Friday, January 17, has catapulted in size, inching close to a $75 price mark. Its market cap has also grown monstrously, almost reaching $15 billion.
The token, which has thrown the entire market into a FOMO frenzy, has caught the attention of former Binance CEO Changpeng Zhao. According to the former Binance boss, the FOMO is just starting, urging people to do it responsibly. This advice comes amid Bitcoin’s surge to recapture the $100k region, with CoinMarketCap showing that the market is in greed mode.
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