Ethereum 
$2,451 Foundation’s Justin Drake has decided to leave his advisory role at EigenLayer. This decision comes amid conflict of interest concerns from the crypto community.
EigenLayer Separation
Recently, it has become clear that there may be deep divisions within the Ethereum community. This upheaval affected some of the most prominent figures. Many are concerned about the industry’s still-evolving conflict of interest norms.
Justin Drake stated that he negotiated his role in good faith. However, many people felt that the EigenLayer position was incompatible with its responsibilities at Ethereum.
Drake offered his apologies to the community and his colleagues at the Ethereum Foundation.
“In hindsight, this move was a bad decision for me.” –Drake
Drake also confirmed that he left his advisory role before the EIGEN tokens were vested.
Justin Drake and Conflict of Interest Controversy
Ethereum Foundation researcher Dankrad Feist also decided to announce his resignation from EigenLayer. Both of them have been working with this crypto project for several years. EigenLayer serves as a platform where crypto applications can “borrow” the security of Ethereum.
In May, Drake and Feist announced their advisory roles at the Eigen Foundation. This change came with the corresponding token allocation. However, the atmosphere became tense following discussions of potential conflicts of interest between EigenLayer and their employer, the Ethereum Foundation.
“Personally, I will reject all offers of consultancy, angel investment and security boards to demonstrate my commitment to neutrality,” Drake said. -Drake
Vitalik Buterin said, “I am proud that Ethereum does not have a culture that prevents people from expressing their opinions freely.”
These developments have resonated widely within the Ethereum community and continue to shape the project’s steps forward.
This situation between Ethereum and EigenLayer has sparked a significant debate about how executives in the crypto industry manage conflicts of interest. Such situations require taking the necessary steps to make the sector more transparent and regulated.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
