Ethereum Foundation now appears to be shifting focus toward founder-driven growth and capital formation after facing criticism from investors and builders.

Ethereum‘s leadership seems to be reconsidering its growth strategy as criticism mounts, with signs of a shift toward a more founder-driven and ecosystem-focused approach, according to Dragonfly Capital’s managing partner Haseeb Qureshi.

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

Now, Qureshi 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 under scrutiny lately as even former Ethereum Foundation engineer Harikrishnan Mulackal criticized the network’s governance, saying it suffers from a “lack of a clear and cohesive vision.”

Per Mulackal, without stronger leadership, Ethereum could stagnate, suggesting that the network should push for faster updates and ship “one hard fork each quarter.” Otherwise, he said, Ethereum risks reproducing “exactly the same result” as the past five years.