INSUBCONTINENT EXCLUSIVE:
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
on to state that ETH needs to head toward the $10,000 mark for this reason.Related: ETH news update: Ether rangebreak possible due to spot
projects must be tokenless and immutable in nature, according to the ECF website.Ethereum Community Foundation aims to grow the Ethereum
ecosystem by providing support to the overall ecosystem
Source: Ethereum Community FoundationDuring his presentation, Cole called out Uniswap, Ethereum Name Service and Optimism for receiving
a valuable asset.Cointelegraph reached out to the Ethereum Foundation but did not receive a response by the time of publication.Ethereum
Validator Association (EVA) was announced as the first recipient to receive a grant from the ECF.Cole says that with the EVA, validators
Cole highlighted a potential conflict of interest as Offchain Labs, the team behind layer-2 network Arbitrum, has an ownership stake in
Prysmatic Labs operates the Prysm client.Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
