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The Ethereum Foundation is facing a proposal that could push staking yield to zero, and the community’s reaction has been closer to revolt than debate.

Seth Ginns, Chief Investment Officer of Franklin Crypto, joins Austin Campbell and Chris Perkins to work through the burn proposal, which would erase Ethereum’s issuance once roughly 60.25 million ETH is staked. Ginns calls it an academic push that skipped the coordination institutions now expect, while Perkins argues the Foundation is about to prove it has no real control over the network it built.

They also cover why institutions keep citing the Bybit hack as a reason to stay off Ethereum, the Clarity Act’s ethics standoff ahead of its September 15 vote, a weak jobs report that left the Fed’s next move unclear, and Cloudflare’s disclosure that AI agents now make up more than half its network traffic.

If Ethereum rejects the institutions weighing in on its own monetary policy, Campbell says, its token should probably trade at a fraction of its current value.

Hosts:

    • Austin Campbell, Founder, Zero Knowledge Group; Adjunct Professor, NYU Stern
    • Chris Perkins, Co-host of Bits + Bips and Head of Franklin Crypto

Guest:

    • Seth Ginns – Chief Investment Officer of Franklin Crypto