Bankless co-founder David Hoffman said he has sold his assets. $ETH Reviewing the “” that has been going on for many years,$ETH The paper “It’s Money.”
In a post dated May 26, 2017, Mr. Hoffman wrote that he believes Ethereum has achieved its current market position, but there is little room for it. $ETH Obtain new structural evaluation from the market.
Hoffman said the sale does not mean he is bearish on Ethereum. He remained bullish on the network and its ecosystem, but argued that only a portion of that growth could flow back into society. $ETH itself. He said, “$ETH The assertion that “money is money” has been fulfilled. ”
Ethereum’s growth may not come directly from inflows. $ETH
Hoffman’s discussion focuses on how Ethereum creates value. He said the network supports applications, layer 2 networks, stablecoins, tokenized assets, and DeFi, but its open source design returns much of its value to the ecosystem.
In his view, Ethereum is $ETH Not all of that growth is viewed as an asset.
https://t.co/5EOn4y2pdx
— David Hoffman (@TrustlessState) May 26, 2026
He also pointed to stablecoins as part of that change. As previously reported in April, Ethereum’s stablecoin supply has reached a record $180 billion, with the network accounting for nearly 60% of the world’s stablecoin supply. This not only supports the use of the network, but also shows how Ethereum can power dollar-based payment rails. $ETH request.
Meanwhile, as reported by crypto.news, Vitalik Buterin said that the Ethereum Foundation’s sales will decrease. $ETH Under a leaner long-term plan focused on security, privacy, openness and resistance to censorship.
L2 activities remain at the center of discussion
The same value capture questions also appear throughout Ethereum’s Layer 2 roadmap. Hoffman said the L2 team needs the freedom to move quickly, but also needs a stronger connection to the broader Ethereum economy and brand. His point was that Ethereum’s rollup strategy helps with scaling, but can leave more margin for L2 and applications.
As previously reported on crypto.news, Gnosis, Zisk, and the Ethereum Foundation have launched an Ethereum Economic Zone at EthCC to address L2 fragmentation. The framework targets over 20 L2s with a value of approximately $40 billion and aims to standardize them. $ETH As gas throughout the participating network.
$ETH Government bonds show another side of demand
Hoffman’s sale comes as some publicly traded companies continue to build out their financial strategies around Ethereum. Crypto.news reported that SharpLink has secured inclusion in the Russell 2000 and Russell 3000 indexes, in a move related to its Ethereum treasury business and broad institutional crypto exposure.
This contrast gives the story a market angle. One Ethereum native voice says, $ETH Some companies continue to build financial products around assets.
Mr. Hoffman’s position falls somewhere between these two views. Ethereum may continue to grow, but $ETH We may no longer be able to provide the kind of recognition we once expected.
This timing also occurs during the broader bankless transition. As crypto.news reported on May 21, Bankless has faced backlash over reported layoffs, with co-founder Ryan Sean Adams saying the media brand’s first era is over. hoffman’s $ETH sale adds another marker to that shift.
On the other hand, Ethereum ($ETH) was trading near $2,100 at the time of reporting, showing a 1% decline over the past 24 hours and a 2% decline over the past week, based on data from crypto.news.
