Bankles founder cleared the ETH, disillusioned with the Taifung faith

@OdailyChina

Author: Wenser (@wenser  2010 )

ETH welcomes again the “crisis of faith”. And this time, the fuse is the encrypted media that has been screaming for Taifung. David Hoffman has written "sell his last ETH." Community user @Ox Lucas also reported that Bankless has recently suspected that most team members will be abolished. There is no doubt that "the loyal E guard has come to his exit."。

IN 2026, WHEN THE UNITED STATES DOLLAR CURRENCY SURGED, ENCRYPTED ETF ASSETS WERE PROGRAMMED INTO AN INSTITUTIONAL FRAME, WHICH SHOULD HAVE BEEN A HIGH-LIGHT MOMENT FOR THE ITA, THE L2 ROUTE WAS PERJURED, THE TOP-LEVEL WITHDRAWAL OF THE FOUNDATION, AND THE FACT THAT ETH PRICES AND FALLING PRICES MADE ITS VERY SURVIVAL AN EMBARRASSMENT。

David Hoffman's silo, perhaps the beginning of the E Guard exit。

Behind the backs of the fall, Banks, stage two

Maybe the new people aren't very familiar with Banks. Since its establishment in 2020, it has been a “speaker media” of the Taicha ecology, based on which the Bankless DAO was founded, and also the former “DAO First Community”. But now that Banks has completed its “first phase” of development, he has had to embark on his second phase。

After David Hoffman sent a letter to clear the ETH, Bankless, another associate of Ryan Sean Adams, wrote: "It's time to make it public. The first era of Banks is over. This is David and I are exploring the six-year cooperation of encryption money, DeFi and Etheum supremacy. We are now in a second era。

In this era, I plan to step back and support David in exploring new frontiers in encrypted money and other fields. I will continue to host podcasts on a weekly basis (by no means missing any wrap-up session), but will have less role in the direction of content and in interviews with guests. David, stay at the helm, I'm fully supportive of him. Personally, I still watch ETH, and watch Banks."

Six years after its establishment, Banks has done a remarkable job: in addition to interviews with prominent elders such as Vitalik, Chris Dixon, Hayden Adams, the media has accumulated 280,000 subscribers to YouTube, and NewsLetter subscribes to as many as 350,000 readers; its Podcast programme has received 4.7 points of high evaluation on platforms such as Spotify and Apple Podcast, and has been included by multiple media as Best Encrypted Operator Top 10, which many call it the “Web3 Education Enlightenment Final Guide”。

But today, David Hoffman's displeasure goes beyond words and even expresses his attitude by “cleaning up ETH”, which is directed at the Etherwood Foundation today。

"Being the most loyal E Guard decided to clear the ETH" : Bankless Foundation

David Hoffman has quickly received a lively discussion from the Etherman communityGet himTO SAY THAT “REGULAR DEPARTURE FROM THE ETHER'S ECOLOGY” IS A REGULAR PROGRAM, “HE IS A SEASONAL WINDBEAM”, AND WHEN HE SEES MORE ETH AGAIN, IT IS TIME FOR THE MARKET TO REACH ITS HIGH POINT AND BE RISK-SENSITIVE。

Then David Hoffman responded positively: "I've always supported the Etherwood block network, but ETH assets are becoming increasingly suspicious, and let's not mix them."

SUBSEQUENTLY, THE MEMBERS OF THE COMMUNITY MADE A POINT: “DID YOU SUPPORT ETH BUT DOUBT THE ETHERWOOD FOUNDATION?”

The answer given by David Hoffman was not hidden, he said: “Unfortunately, you cannot separate the price performance of ETH from that of its leadership.” The dissatisfaction with the Etherwood Foundation, the “ecological leader”, is overwhelming。

It is worth mentioning that this is not the first time David Hoffman has expressed his dissatisfaction with the Etherberg Foundation:

• LAST APRIL, WHEN THE ETH PRICE FELL $1500, IT PUBLICLY STATED THAT “THE LEADERSHIP AND CULTURE OF THE TAIFUNG ARE DRIVING OUT USERS AND DEVELOPERS”
• Last October, Dankrad Feist, an ETA researcher, also expressed his concern about the brain drain in ETA ecology
• In March this year, he directly criticized the Taifung Foundation for “not working for market expansion in Taifung”。

Now it seems that David Hoffman's attitude towards ETH and the Etherwood Foundation has moved from “depressing and angry with its misfortune” to “depressing more than dying”。

THE OTHER SIDE OF THE STORY, NATURALLY, IS ETH AND THE ETHERWOOD FOUNDATION ITSELF。

According toCoinglass DataTHE ETH/BTC EXCHANGE RATE FELL TO 0.02835 ON MAY 12TH, REACHING ITS LOWEST LEVEL SINCE JULY 2025, A CUMULATIVE DECLINE OF MORE THAN 35% OVER THE AUGUST 2025 HIGH OF 0.04324。

At the same time, there was a wave of departures from the ETA Foundation: on May 19, ETA researchers Carl Beek and Julian Ma officially announced their departure. The former worked for seven years at the organization, while the latter worked for four years at the Etherafung Foundation, which was accompanied by thousands of days and nights。

Before that, a number of senior executives and researchers from the ETA Foundation had left their posts, including Tomasz K. Stańczak, who left in February of this year, Josh Stark, who left in March, and Barnabé Monnot, Tim Beiko and Alex Stokes, who left the Protocol team earlier this monthAt least 8 people left the top of the Etherwood FoundationI don't know。

It is ironic that the main reason for these people to leave is because of the absurd incentives of the ETA Foundation to ask employees to sign their oaths of loyalty。

The organization could be said to have lost its “last basic disk” in combination with the ongoing sale of ETH by the ETA Foundation, even directly from the OTC trading outside of DAT Treasury. The internal brain drain and the lack of external competition make the future of the Taifung Foundation more bleak than the Bankless。

AFTER DAT, WHAT'S THE ETHER'S NEXT SOLUTION

LAST APRIL, AFTER PARTICIPATING IN THE ETH HANGZHOU UNDERGROUND CAMPAIGN, I WROTE AN INTERVIEWETH Hangzhou On-site Survey: Ethera is in mid-life, with new and high prices within three yearsThe price of ETH also struggled at the horizontal level, and countless people had little hope for subsequent market performance. But with the DAT boom in June and July, the purchases of listed companies such as Bitmine and Sharplink raised the price of ETH to nearly $5,000。

And now, the higher price point of ETH is already over 50 percent, and the difference is that when people talk about Ethera, they don't see it as the only answer to the “new financial infrastructure”, the L2 route is completely false, and Hyperliquid becomes the new “link infrastructure”. What's the next solution for waiting for ETH with the Ether's? No one can give an accurate answer。

Perhaps it is more desperate than the past of the depressed Etherland ecology that has been built in such a fireless past than the price of the coin. David Hoffman clears up ETH may have his own reasons, but moving away from Ether's ecology becomes a reality。