Bankless Co-Founder Sells ETH, Challenging Value-Capture Thesis
David Hoffman, co-founder of Bankless and a long-time Ethereum advocate, sold his entire ETH position on May 20, 2026, describing the move as a deliberate capital-allocation decision. The sale drew attention because Hoffman remains bullish on Ethereum’s technology, even as he doubts ETH will be rerated to a higher valuation.