Vitalik Buterin Announces Ethereum Foundation Leadership Overhaul, Allocates 50,000 ETH to DeFi via Aave

Jan 20, 2025, 07:06 PM

Ethereum co-founder Vitalik Buterin announced that the Ethereum Foundation is undergoing significant leadership changes, a process that has been ongoing for close to a year. "We are indeed currently in the process of large changes to EF leadership structure, which has been ongoing for close to a year. Some of this has already been executed on and made public, and some is still in progress," Buterin stated. The organization aims to strengthen technical expertise, improve developer support, and promote decentralization. Additionally, the Foundation has established a new multisignature wallet and transferred 50,000 ETH, valued at over $167 million, to participate in the decentralized finance (DeFi) ecosystem. The funds will be used to engage with DeFi applications, starting with deposits into Aave, a leading lending protocol, in response to community feedback.