Ethereum Leadership Aims for Solana-Like Expansion, According to Qureshi

The Ethereum Foundation is seemingly moving towards a founder-centric strategy for growth and capital generation following criticism from investors and developers.

There are signs that the Ethereum leadership is re-evaluating its strategy for growth in response to mounting criticism, with indications of a shift towards a more founder-focused and ecosystem-centric approach, according to Dragonfly Capital's managing partner Haseeb Qureshi.

After meeting with several Ethereum Foundation members at ETH SF, I am more optimistic about Ethereum.

There is a genuine sense of urgency and an acknowledgment that changes are necessary. They understand that it's not 2020 anymore and want Ethereum to have an impact. They are taking input from investors and developers…

In an X post on March 17, Qureshi revealed that after meeting with several Ethereum Foundation representatives, he is now "more optimistic about Ethereum." He noted a "real urgency" among Ethereum Foundation members, adding that they understand concerns about Ethereum's lack of progress and "want Ethereum to matter."

Qureshi now says the team appears to be considering how to "replicate the success" of Solana's Superteam, a community of operators, developers & grantees working on Solana projects, within the Ethereum ecosystem, with less emphasis on research and more on "capital formation and founder journeys."

"Ethereum leadership have been getting a lot of criticism, and it's important that you all know this — it's working. They're listening. They're thinking hard about how to adapt. It's a teachable moment for them."

Haseeb Qureshi

Qureshi's comments come as Ethereum's direction has been the subject of scrutiny recently, with even former Ethereum Foundation engineer Harikrishnan Mulackal criticizing the network's governance, saying it suffers from a "lack of a clear and cohesive vision."

According to Mulackal, without stronger leadership, Ethereum could stall, suggesting that the network should push for faster updates and ship "one hard fork each quarter." Otherwise, he said, Ethereum risks repeating "exactly the same result" as the past five years.