NEAR Foundation Appoints Helius CEO Mert Mumtaz to Governing Council

The NEAR Foundation announced a significant governance appointment on October 15, 2026. Mert Mumtaz, the chief executive of Solana infrastructure firm Helius, has joined the NEAR Foundation Council. 

This move places an executive from Solana's tooling layer directly inside the governance of a separate Layer 1 network. 

The appointment signals a commitment to cross chain collaboration and product strategy as NEAR expands its vision for private on-chain markets. The market reacted positively, with the NEAR token surging over 12%.

Key Takeaways

• Mert Mumtaz joined the NEAR Foundation Council on October 15, 2026.
• He will guide product strategy, ecosystem growth, and governance.
• The NEAR price surged over 12% following the announcement.

Why Did Helius CEO Mert Mumtaz Join the NEAR Foundation?

Mert Mumtaz leads Helius, a Solana infrastructure company. Helius builds tools used by major teams including Phantom, Jupiter, Coinbase, and Bitwise. Its services include remote procedure call nodes, data streaming, transaction delivery, and validators.

His decision to join the NEAR Foundation Council reflects a belief in cross chain cooperation. Mumtaz was an early user of NEAR Intents. He called the protocol the market of markets before most of the industry caught on. In a statement, he explained his reasoning. 

He said there is no world in which crypto succeeds but distinct markets are gatekept exclusively through centralized exchanges. He noted that this already exists and is called traditional finance.

He argued that for crypto to win, the industry needs connected, unstoppable liquidity at planetary scale. He stated that neither Solana, Zcash, nor Bitcoin can win on their own. They must work together, and NEAR is how that happens. 

This appointment places him in a position to help guide NEAR's product strategy, ecosystem growth, and governance.

Read also: NEAR Inflation Rate Reduction: New 1.6% Max Issuance Proposal Explained

Who Is on the NEAR Foundation Council?

The NEAR Foundation Council is the governing body that oversees the nonprofit organization behind NEAR Protocol. The foundation is a Switzerland based nonprofit. 

This is the same legal structure used by projects including Ethereum and Polkadot. The council handles major strategic decisions, comparable to a board of directors.

With the addition of Mert Mumtaz, the council now includes several prominent figures.

• Illia Polosukhin: Co-founder of NEAR Protocol.
• Mert Mumtaz: CEO of Helius.
• Diogo Monica: Co-founder of Anchorage Digital.
• Chris Donovan: Former COO of NEAR Foundation.
• Bowen Wang: Founder of NEAR One.

Illia Polosukhin welcomed the appointment. He said Mumtaz was an early NEAR Intents adopter and advocate before most of the industry caught on. He credited Mumtaz's candor and support. 

He called him a rare force in crypto with a unique ability to be both correct and vocal about it. Mumtaz will also serve as a judge for the upcoming NEAR Hackathon. This two week build sprint runs from November 1 to 14, 2026. Results will be announced by November 18.

Price Impact & Technical Outlook for NEAR

The announcement coincided with a significant price movement for NEAR Protocol. The token surged 12.14% to $5.19 in 24 hours. This significantly outperformed the broader crypto market, which rose 2.06% during the same period.

The primary driver was the strategic governance appointment. Secondary factors include NEAR's inclusion in the newly launched Grayscale Decentralized AI Fund. This provides a new avenue for institutional exposure. 

Technically, the price is holding above key support levels. It remains above the 30 day simple moving average at $4.99 and the Fibonacci 50% retracement level at $4.98. This confirms a bullish structure.

The immediate catalyst to watch is the NEAR Hackathon running from November 1 to 14. Key resistance sits at the recent swing high of $5.42. 

A sustained move above that level could open the path toward $5.66. The critical support zone is $4.98 to $4.73. A daily close below it would weaken the bullish structure.

Read also: Is NEAR a Good Investment? Market Analysis and Sentiment

FAQ

Who is Mert Mumtaz?

Mert Mumtaz is the CEO of Helius, a Solana infrastructure firm that serves major teams like Phantom, Jupiter, and Coinbase.

Why did Mert Mumtaz join the NEAR Foundation Council?

He joined to help guide product strategy and governance as NEAR expands its private onchain market vision. He believes in cross chain collaboration.

Who else is on the NEAR Foundation Council?

The council includes Illia Polosukhin, Diogo Monica, Chris Donovan, and Bowen Wang.

How did the NEAR price react to the news?

The NEAR price surged over 12% to $5.19 following the announcement.

What is the NEAR Hackathon?

It is a two week build sprint from November 1 to 14, 2026. Mert Mumtaz will serve as a judge.

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