Zak Cole, President of the Ethereum Community Foundation and a veteran protocol engineer, says institutional investors are losing faith in the Ethereum Foundation's recent communications, calling them disconnected from market realities. He argues the Foundation's performance is too closely tied to ETH price swings, and that a bear market is amplifying community concerns.
Cole insists Ethereum has evolved beyond its startup phase into a mature, robust ecosystem. He views recent senior departures from the foundation as signs of maturation, not instability. However, he sharply criticizes the foundation's lack of transparency, saying its messaging feels out of touch and confusing to the community.
He describes the Ethereum Foundation as essentially a mouthpiece for Vitalik Buterin, noting leadership changes were driven by community pressure but lacked genuine control transfer. Cole warns that recent departures suggest no real intention to deliver on promises, eroding trust and threatening future investment.