Ethereum marks entry into second decade amid foundation upheaval

The Ethereum Foundation has slashed its budget by roughly 40%, laid off about 20% of its workforce, and watched a parade of senior researchers head for the exits. The restructuring in detail On June 23, the Ethereum Foundation announced the budget cut and confirmed the elimination of approximately 54 staff positions. The move was framed as a strategic pivot toward a leaner operation focused squarely on core protocol development, with other responsibilities being handed off to independent organizations. The leadership shakeups started months earlier. Co-executive director Tomasz Stańczak stepped down on February 13. Hsiao-Wei Wang, part of the foundation’s leadership team, departed in mid-June. At least eight senior researchers left over the course of the year, with five of those exits happening in May alone. Just one day before the restructuring announcement, a new independent research organization called EthLabs launched on June 22. Following the money In April, the foundation converted 5,000 ETH into stablecoins to fund ongoing operations. The stated goal is maintaining a treasury policy that covers approximately 2.5 years of expenses. The protocol roadmap hasn’t stopped Despite ...