Vitalik Buterin addressed criticism regarding the Ethereum Foundation's position.
The Ethereum co-founder stated that the foundation is not the central authority in the network.
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Ethereum co-founder Vitalik Buterin posted on X about shifting the Ethereum Foundation toward a narrower role. He said the organization will prioritize longevity over breadth while reducing ETH sales. The foundation will focus on censorship resistance, openness, privacy and security.
The Ethereum Foundation dismissed 54 employees and reduced its annual budget by roughly 40 percent on June 23 as part of a reorganization. The cuts follow the launch of EthLabs, a new research organization, the previous day. Officials described the changes as a shift toward a leaner structure focused on core protocol priorities.
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The Ethereum Foundation has eliminated 54 positions, representing about 20 percent of its staff, as part of a restructuring announced Tuesday.
The Ethereum Foundation completed its third over-the-counter sale of 10,000 ETH to BitMine Immersion Technologies, valued at roughly $22.9 million. The transaction funds the foundation's operations, including research and community grants. This follows similar sales last week and in March.
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Ethereum core contributors are debating a protocol change that would allow validators to redirect a portion of their rewards to fund ecosystem development. The mechanism would cap the redirection at 10% and activate it network-wide if a majority supports it.
Binance founder Changpeng Zhao shared his vision for strengthening the U.S. crypto market in recent interviews with CoinDesk. He outlined goals for Binance.US and discussed factors behind the current market conditions.