Vitalik Buterin Overhauls Ethereum Foundation Leadership, Transfers 50,000 ETH to Support DeFi

Jan 21, 2025, 11:21 AM

Vitalik Buterin, co-founder of Ethereum, has announced significant changes to the leadership structure of the Ethereum Foundation, emphasizing the enhancement of technical expertise and better communication with the Ethereum ecosystem. Buterin clarified that he holds the sole authority to decide on the new leadership team until a proper board is established. This announcement comes amidst community criticism and pressure for changes, particularly targeting the foundation's executive director, Aya Miyaguchi. Buterin has strongly opposed the community's aggressive tactics, labeling some of the social media attacks on Miyaguchi as 'pure evil' and warning that such pressure could drive away top talent from the Ethereum ecosystem. The Ethereum Foundation has also initiated a transfer of 50,000 ETH, valued at over $165 million, to a new multisig wallet to participate in the DeFi ecosystem, signaling a strategic move to support decentralized finance applications on Ethereum.