An Ethereum core developer has set up a new organization called the Ethereum Community Foundation, with one of its aims to bring the price of Ether to $10,000.
ECF was spearheaded by Ethereum core developer Zak Cole, who explained his rationale for setting up ECF at the eighth Ethereum Community Conference held in Cannes, France, on Tuesday.
According to Cole, the Ethereum Foundation has been neglecting ETH as an asset class.
The new organization is set to fund infrastructure projects that grow the Ethereum ecosystem, while simultaneously increasing the price of ETH, according to Cole.
“We are the Ethereum Community Foundation. We say what the [Ethereum Foundation] can’t, we do what the [Ethereum Foundation] won’t. We serve ETH holders because you deserve better.” Cole said.
In an X post, Cole said ETH’s price is a “direct function of security.” He went on to state that ETH needs to head toward the $10,000 mark for this…
