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Bankless Co-Founder David Hoffman Sells Remaining Ethereum as Podcast Leadership Shifts

Bankless Co-Founder David Hoffman Sells Remaining Ethereum as Podcast Leadership Shifts

Bankless said Ryan Sean Adams moved into a behind-the-scenes role as David Hoffman took full control of the podcast, while Hoffman said he sold his remaining ETH amid weaker Ethereum sentiment.

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Fact Check
All three core claims are supported by primary sources. David Hoffman's own X post (x.com/TrustlessState/status/2057183150816583834) confirms he sold his remaining ETH on or around 2026-05-20. Ryan Sean Adams' own X post (x.com/RyanSAdams/status/2057216981368221776) confirms he stepped back to a behind-the-scenes role while Hoffman took full control of the Bankless podcast direction. The Citi 12-month ETH target cut (from $4,304 to $3,175) is confirmed by Crypto News reporting on a Citibank note dated March 17, 2026. The only minor nuance is that the Citi cut predates the Bankless leadership shift by roughly two months, so the claim's implicit framing that these events are contemporaneous is slightly imprecise, but all individual facts are accurate. PANews and TechFlowPost provide corroborating aggregation of all three elements.
Summary

Bankless is undergoing a leadership transition that Ryan Sean Adams described as the end of the platform’s first era and his six-year collaboration with David Hoffman, which centered on crypto, DeFi, and maximizing Ethereum. Bankless said Adams moved into a behind-the-scenes role while Hoffman assumed full control of the podcast. Separately, Hoffman said he sold all of his remaining ETH as Ethereum traded near $2,100, well below its previous peak of $4,946 last August. A brief Chinese-language post also reported that a Bankless co-founder had fully exited ETH, but did not identify the person or provide figures, dates, or official confirmation; Hoffman’s public statement supplies that missing attribution. In another development, Citi lowered its 12-month ETH price target to $3,175 from $4,304 earlier this year. The available sources do not provide Hoffman’s reasons for selling, the size of his former holdings, or Citi’s detailed rationale.

Terms & Concepts
  • ETH: The native cryptocurrency of Ethereum, used to pay network fees and interact with applications on the blockchain.
  • DeFi: DeFi (decentralized finance) refers to blockchain-based financial services such as lending, trading, and borrowing that operate without traditional intermediaries.
  • Bankless: A crypto-focused media brand known for commentary and education around Ethereum, decentralized finance, and digital assets.