ETH Wallets Holding $164 Million Back Danny Ryan for Ethereum Foundation Leader
2025-01-30
Category: None

In an informal Ethereum poll, a majority of ETH wallets collectively holding over 51,198 ETH ($164 million) cast their votes in support of former Ethereum researcher Danny Ryan to become the next leader of the Ethereum Foundation (EF).
Meanwhile, others call for the Aave DAO to take over the Ethereum Foundation amid the organization’s recent leadership woes.
Ethereum Foundation Leadership Concerns Extend
On-chain analytics platform Lookonchain reported that 97% of 335 voters backed Ryan in the unofficial vote.
“In an informal Ethereum poll, 97% of 335 voters voted for former Ethereum researcher Danny Ryan to become the next leader of the Ethereum Foundation. These wallets hold more than 51,198 ETH ($164M),” Lookonchain reported.
Despite the vote, Ethereum co-founder Vitalik Buterin recently stated that social media pressure would not dictate leadership changes. His firm stance signaled that any leadership transition at the Ethereum Foundation would remain under his direct control until structural reforms are in place.
“No. This is not how this game works. The person deciding the new EF leadership team is me. One of the goals of the ongoing reform is to give the EF a ‘proper board,’ but until that happens, it’s me. If you ‘keep the pressure on,’ then you are creating an environment that is actively toxic to top talent,” Buterin emphasized.
The subject comes amid broader discussions on Ethereum’s future direction. Tron founder Justin Sun shared ideas for an Ethereum revival. As BeInCrypto reported, the controversial crypto executive urged key stakeholders to focus on enhancing scalability and improving network efficiency.
Similarly, Uniswap CEO Hayden Adams revealed an Ethereum Improvement Proposal (EIP) aimed at transforming the ecosystem. He suggested a one-time inflationary event, with newly minted ETH channeled toward acquiring top decentralized finance (DeFi) projects and Layer-2 (L2) solutions.
Aave DAO Eyes Ethereum Foundation Acquisition
In a parallel development, the Aave DAO may be eying a possible EF acquisition, even though the organization has not indicated any plans for sale. Nansen CEO Alex Svanevik suggested that Aave DAO should acquire the Ethereum Foundation. Interestingly, Aave DAO founder Marc Zeller enthusiastically responded, “Let’s do it.”
“Aave DAO should acquire the Ethereum Foundation,” Svanevik proposed.
Zeller further elaborated on Aave’s financial strategy, highlighting that the DAO has never sold ETH. Instead, it reportedly provides wrapped Ethereum (wETH) liquidity through Aave while maintaining a diversified treasury with multiple platforms.
According to the Aave DAO executive, some of the platforms include Lido Finance, Rocket Pool, and Ether.fi, Stader Labs, Kelp, and StakeWise.
“Aave DAO increases its ETH-correlated reserves by approximately 100 ETH per week,” Zeller noted.
However, concerns were raised about how Aave manages expenses, particularly during market downturns. One user questioned whether the DAO continuously borrows against its collateral for expenses.
“We’re deeply profitable. We did an AFUERA campaign to trim the fat, and we’re up only since then,” Zeller responded confidently.
While Buterin remains in firm control of EF leadership decisions, the informal vote in favor of Ryan reflects a growing community-driven push for a leadership restructuring. Whether or not the Ethereum Foundation sees a formal restructuring remains to be seen, but the conversation has undoubtedly intensified.
BeInCrypto data shows that Ethereum’s price has been up by over 5% since the Thursday session opened. As of this writing, ETH was trading for $3,251.