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Crypto DeFi

NEAR Foundation Appoints Helius CEO Mert Mumtaz to Its Board

The NEAR Foundation has appointed Mert Mumtaz, CEO of Solana infrastructure firm Helius, to its council, where he will help shape product strategy, ecosystem growth and governance. Mumtaz was an early user of NEAR Intents, which the foundation said has surpassed $33 billion in cumulative trading volume and over $160 million in privacy-related total value locked. NEAR Intents suffered an approximately $3.8 million exploit in early October tied to deposit and withdrawal infrastructure; the team said the vulnerability was fixed and full compensation promised.

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AI take

Mumtaz's appointment is a notable cross-ecosystem signal: a Solana infrastructure operator joining NEAR's council suggests the foundation is prioritizing interoperability and intent-based execution over chain-specific maximalism. The disclosure that NEAR Intents has crossed $33 billion in cumulative volume puts real weight behind that pivot, even as the October exploit remains a governance and security test the new council member inherits. Whether that deposit and withdrawal infrastructure is hardened, and whether the compensation promise holds, is the open question for the ecosystem.

Generated by AI for reference only.

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