🏛️ 🇪🇺 ETHEREUM FOUNDATION CUTS 40% OF THE BUDGET, LAYS OFF 20% OF STAFF TO SURVIVE IN THE NEW ERA!
Vitalik Buterin has officially confirmed that the Ethereum Foundation (EF) is undergoing its most extensive restructuring since The Merge, accepting a downsizing to shift towards a long-term sustainable funding model.
🔍 4 Key Data Points Extracted from the Major Overhaul:
📍 EF has decided to cut operational budget by 40% this year and lay off 20% of its workforce. The plan is to tighten spending from 15% of the remaining resources each year down to 5% after 2030 to maintain operations for decades.
📍 The entire organization has been consolidated into 5 key operational clusters following the departure of several veteran researchers from the Protocol team.
📍 Despite the budget cuts, Vitalik asserts that efforts will still focus on a comprehensive upgrade of the foundational architecture to prepare for the AI and quantum computing era.
📍 In the long term, after completing the Strawmap, Ethereum will freeze new features.
With the internal situation shaking up like this, it looks like the coin price won't be getting a boost anytime soon, fam🥹🥹
Vitalik Buterin has officially confirmed that the Ethereum Foundation (EF) is undergoing its most extensive restructuring since The Merge, accepting a downsizing to shift towards a long-term sustainable funding model.
🔍 4 Key Data Points Extracted from the Major Overhaul:
📍 EF has decided to cut operational budget by 40% this year and lay off 20% of its workforce. The plan is to tighten spending from 15% of the remaining resources each year down to 5% after 2030 to maintain operations for decades.
📍 The entire organization has been consolidated into 5 key operational clusters following the departure of several veteran researchers from the Protocol team.
📍 Despite the budget cuts, Vitalik asserts that efforts will still focus on a comprehensive upgrade of the foundational architecture to prepare for the AI and quantum computing era.
📍 In the long term, after completing the Strawmap, Ethereum will freeze new features.
With the internal situation shaking up like this, it looks like the coin price won't be getting a boost anytime soon, fam🥹🥹