Crypto Foundations are slowing progress, says a16z legal head
Miles Jennings declares crypto foundations obsolete
Miles Jennings, Head of Policy and Chief Legal Counsel at leading venture firm a16z crypto, has proclaimed the end of crypto foundations, asserting that organizations such as Ethereum, Solana, and Sui have become obsolete.
Although nonprofit foundations that support and guide the development of major blockchain projects—like the Ethereum, Solana, and Sui foundations—“were once a reasonable legal path to progress,” they are now outdated, Jennings argues in his article titled "The End of the Foundation Era in Crypto."
According to Jennings, these foundations now hinder the progress of the crypto industry and “create more friction than decentralization.”
He adds that new policies (such as the CLARITY Act), new structures (like DUNA), and smarter tools (like BORG) allow for building better systems—with improved incentives, accountability, and decentralization.
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Jennings wrote on his X page that traditional dev companies are a better way to build and maintain networks, as they focus on growth and impact rather than charity funding or vague mandates.
In comments to The Defiant, Jennings added that many foundations struggle with coordinating numerous independent participants, as such coordination requires expertise across various fields—from marketing and business development to engineering. As a result, there's still a dependency on the original development company.
A fundamental issue
Some in the crypto industry agreed with Jennings’ viewpoint. Martin De Rijke, Head of Growth at asset management firm Maple Finance, noted that foundations were once needed as a buffer from SEC scrutiny, but now often slow down operations and blur accountability.
“At Maple, we found that operating as a company gives us the clarity and flexibility to build, scale, and serve users—especially institutions—in a rapidly evolving market,” said De Rijke.
Kyle Tut, co-founder and CEO of Pinata, believes the best way forward is “eliminating the use of foundations and refocusing on creating open and transparent tokens to support decentralized tech.”
As we wrote, Ethereum Foundation shifts to DeFi for treasury needs
