Lido founder says there's 'no actual' Second Foundation amid Ethereum Foundation backlash

Konstantin Lomashuk, co-founder of the liquid staking protocol Lido, addressed speculation regarding the Ethereum Foundation's rumored "Second Foundation." 

Lomashuk's statement comes after his engagement with the Second Foundation's first and only post, which led some to believe he was behind the new organization's launch. Some thought the Second Foundation could be connected to the " big shifts " Ethereum creator Vitalik Buterin pledged for the Ethereum Foundation, a non-profit overseeing the eponymous network, amidst community backlash. 

"No actual second foundation has been created yet," Lomashuk wrote in a Wednesday post on the social media platform X. 

"Ethereum is the ultimate world computer, and every Etherean can help it grow, evolve and succeed," he continued. "If a second foundation ever does form, it must have a clear purpose that complements the enormous work of current contributors. I appreciate everyone’s support and believe we need more organizations contributing to Ethereum."

On Jan. 18, Buterin said that " large changes " would occur within the Ethereum Foundation leadership structure, communication and support for the network's developer community, among other areas, after the foundation faced criticism for its lack of Ethereum ecosystem participation, The Block previously reported. 

Several news organizations reported that Lomashuk, who had previously floated the idea of creating a research-focused auxiliary organization funded by the community, was attached to the supposedly new organization. 

Lido is one of the largest Ethereum liquid staking protocols by value locked, amassing $31.89 billion as of Jan. 22.