Vitalik Buterin says Ethereum Foundation will cut budget 40% in major reset
CoinDesk·
60-second summary
Vitalik Buterin announces a 40% budget cut for the Ethereum Foundation, a significant move amidst ongoing turmoil, as the organization confirms a 20% reduction in headcount. This follows the resignation of co-Executive Director Hsiao-Wei Wang, the ninth senior figure to leave since January, indicating a major restructuring effort within the foundation.
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.