Vitalik Buterin · Ethereum · CoinDesk
Vitalik Buterin confirms Ethereum Foundation will cut budget 40% in major reset
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The Ethereum Foundation (EF) will slash its budget by roughly 40% this year as part of a shift toward a leaner, endowment-style operating model, Ethereum co-founder Vitalik Buterin said published Tuesday.
Key facts
- Buterin said the spending cuts are aimed at transitioning the foundation from spending around 15% of its remaining treasury annually before 2026 to a long-term target of roughly 5% per year after 2030
- 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
- The Ethereum Foundation (EF) will slash its budget by roughly 40% this year as part of a shift toward a leaner, endowment-style operating model, Ethereum co-founder Vitalik Buterin said published
- I respect my EF colleagues far too much to pretend that there was not much that is lost," Buterin wrote, acknowledging that the cuts involve "difficult decisions" and the departure of experienced
Summary
The Ethereum Foundation will cut its budget by roughly 40% this year as it transitions to a leaner, endowment-style model, with Vitalik Buterin saying the organization aims to reduce annual spending from about 15% of treasury assets to around 5% by 2030. The announcement comes amid a broader shakeup at the Ethereum Foundation, including a 20% headcount reduction announced Tuesday and the resignation of co-Executive Director Hsiao-Wei Wang, bringing the total number of senior departures since January to nine. 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.