The Ethereum Foundation (EF), the organization supporting the Ethereum blockchain, is cutting about 20% of its workforce and laying off 54 employees. Position According to a blog post from the Ethereum Foundation, this is part of a major reorganization. The layoffs, announced Tuesday, are part of a months-long internal reorganization related to the foundation’s updated goals and financial policies.
this Ethereum Foundation said the layoffs will make the organization “leaner and more focused” and help it focus on Ethereum’s future growth. The reorganization comes as the Ethereum Foundation is undergoing leadership changes and facing growing criticism of the way the organization is run.
Ethereum leadership changes
Earlier this month, co-executive director Wang Xiaowei resigned. According to CoinDesk, Wang’s departure follows the departure of co-executive director Tomasz Stańczak from the organization. Following these exits, board member Bastian Aue has taken on additional responsibilities and is currently helping oversee the foundation’s transition and day-to-day operations.
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Over the past six months, approximately nine senior leaders have left or moved out of their positions at the Ethereum Foundation. The spate of leadership departures has raised questions about the foundation’s governance structure and overall performance. The scrutiny comes as Ethereum faces increased competition from other blockchain networks trying to attract developers, users and investors. While the Ethereum Foundation is laying off employees, another Ethereum-related initiative is expanding its activities.
ETHLabs expansion plan
According to CoinDesk, on Monday, BitMine Immersion Technologies and SharpLink Gaming, two major public companies holding Ethereum, announced their support for a new project called ETHLabs.
Ethereum Co-founder Joseph Lubin also supports ETHLabs, a new non-profit research and development initiative aimed at accelerating Ethereum’s technological progress and encouraging more institutions to adopt the blockchain.
As part of the reorganization, the Ethereum Foundation has reorganized its operations into five main working clusters. One of these new clusters will focus exclusively on institutions, including corporate partnerships, financial infrastructure development and policy coordination.
this Base CoinDesk said it believes this new structure will help better support Ethereum’s long-term roadmap and ecosystem development. The layoffs mark one of the Ethereum Foundation’s biggest organizational changes in recent years and underscore Ethereum’s efforts to streamline operations while continuing to compete in the rapidly evolving blockchain industry.
