Vitalik Buterin says Ethereum Foundation will cut budget 40% in major reset
The reduction comes on the same day the EF confirmed a 20% reduction in headcount and follows the resignation of co-Executive Director Hsiao-Wei Wang. Her departure brings the total number of senior Ethereum Foundation figures to leave since January to nine, underscoring the scale of the organization’s ongoing turmoil.
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Summary
- The Ethereum Foundation will cut its budget by roughly 40% this year as it transitions to a leaner, endowment-style model, with Vitalik Buterin saying the organization aims to reduce annual spending from about 15% of treasury assets to around 5% by 2030.
- The announcement comes amid a broader shakeup at the Ethereum Foundation, including a 20% headcount reduction announced Tuesday and the resignation of co-Executive Director Hsiao-Wei Wang, bringing the total number of senior departures since January to nine.
