Vitalik Buterin says Ethereum Foundation will cut budget 40% in major reset
CoinDesk 2026-06-23 15:00:00
Context: The Ethereum Foundation is undergoing a significant restructuring, with a 40% cut in its budget and a 20% reduction in headcount, as announced on the same day that co-Executive Director Hsiao-Wei Wang resigned. This development is part of a larger period of turmoil for the organization, which has seen nine senior figures leave since January. The changes are aimed at resetting the foundation's operations.
Key Facts
- The Ethereum Foundation will cut its budget by 40% as part of a major reset, as announced by Vitalik Buterin.
- The budget reduction comes on the same day the foundation confirmed a 20% reduction in headcount.
- The announcement follows the resignation of co-Executive Director Hsiao-Wei Wang, bringing the total number of senior Ethereum Foundation figures to leave since January to nine.
- The departure of senior figures and the restructuring efforts underscore the scale of the organization's ongoing turmoil.
- The changes are being implemented under the leadership of Vitalik Buterin, who has publicly commented on the need for the Ethereum Foundation to reassess its operations.