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Bankless co-founder sells last of his ETH as media outlet enters second era
Co-founder Ryan Sean Adams said David Hoffman will lead the next phase of Bankless.
David Hoffman, co-founder of Bankless, disclosed that he had divested from Ethereum, a move that surprised many in the crypto community given his long-standing reputation as one of Ethereum’s most outspoken supporters. Hoffman had built much of his public profile around a strongly pro-Ethereum investment thesis.
The sale comes as the media outlet is transitioning into its “second era” of operations, said co-founder Ryan Sean Adams. Adams playfully speculated that Hoffman might have sold near a market bottom.
Time to say something out loud.
The first era of Bankless has concluded. A six year collaboration between David and myself exploring crypto, defi, and maximizing Ethereum.
We're in the second era now.
In this second era I'm planning to take more of a backseat role supporting… https://t.co/so0phQ8Q1A
— RYAN SΞAN ADAMS – rsa.eth 🦄 (@RyanSAdams) May 20, 2026
Adams is stepping into a more backseat role at Bankless, reducing his involvement in content direction and guest interviews while continuing to appear regularly on the podcast and supporting Hoffman as he takes over leadership of the platform.
Despite stepping back operationally, Adams said that the transition would mark the beginning of a new chapter for the platform rather than a departure from crypto.
Ethereum’s recent price performance has fallen short compared to several major crypto assets. The token hovered around $2,111 at the time of writing, marking a decline of about 57% from its all-time high recorded in August 2025, per CoinGecko.