Stephan Tual, one of the main designers behind The DAO's structure, left the Ethereum community after nine years, citing a mismatch between what he wanted to create and what he thought the project had transformed.

In his e-mail to the Ethereum London meeting, Tual said, “I cannot conscientiously continue to act as if everything is okay on Web3” and announced that he is leaving the meeting and the ETH community in general.

Tual provided more details in a separate Reddit post he wrote. This post covered a number of criticisms and fraud allegations regarding The DAO and software company Slock.it's role in The DAO. It also deepened the disconnect he felt about Ethereum's current state. Tual said the following in his statement on the subject:

   “As of August 15, 2022, the concept of blockchain (or should I use the 'distributed ledger' terminology coined by hedge funds?) is a smattering of centralized NFTs, endless pyramid schemes, illegal securities, and renegade sycophants swearing loyalty to the nearest regulator. It turned into a circus. I don't even see myself as a part of this field."

Stephan Tual

Tual added that it now plans to focus on other technologies such as mesh networks and software-based radio communications.

Tual joined the Ethereum project as chief communications officer in January 2014. He worked there until September 2015 and left in 2016 to found Slock.it, which created a framework for creating a DAO. That year, a large developer community used the framework in coordination with Slock.it and developed it to release what is known as The DAO.

Finally, let's take a look at the Ethereum price. ETH is $1,623.50 at the time of publication and a 24-hour trading volume of $16.025,212,219. ETH price is down -0.4% in the last 24 hours.