Flashbots Co-founder Departs with Farewell Letter
Alex Obadia, a co-founder of Flashbots, the Ethereum infrastructure service combating MEV extraction, has announced his departure from the company.
In a farewell letter posted on Twitter, Obadia highlighted the network’s vulnerability to centralization and expressed concerns about its high level of censorship. He emphasized the importance of self-protection to prevent Flashbots from inadvertently contributing to the problems they aim to solve, referring to it as “the very Moloch we’re fighting against.”
The departure of a co-founder like Obadia raises concerns about the future trajectory of Flashbots and the steps needed to address the challenges posed by MEV (Maximal Extractable Value) extraction and Ethereum’s centralization. It underscores the ongoing need for innovation and research to protect the values and principles of the Ethereum ecosystem.
Flashbots, which proposes blocks for validators running the Ethereum blockchain, had earlier sought to raise funds at a billion-dollar valuation. The service was born out of the “the existential crisis of MEV”.
In his letter, Obadia mentioned that his decision to leave Flashbots was driven by various reasons, both personal and professional. He stated that he believes his vision and values would be better served elsewhere and highlighted that such transitions are normal in growing organizations.
