Vitalik Buterin, the founder of Ethereum (ETH) and a key figure in the cryptocurrency market, has made some important statements.
Accordingly, Vitalik Buterin stated that the Ethereum Foundation is being restructured and its influence will decrease.
In a lengthy post published from his X account, Buterin addressed the restructuring at the Ethereum Foundation, explaining that Bastian Aue, who took over as co-director from Tomasz Stańczak earlier this year, is leading the reorganization.
Buterin stated that the board of directors had expanded and that his own influence within the foundation would gradually decrease.
Acknowledging community criticism that the foundation’s activities did not align with its values of decentralization and confidentiality, he said these points were “a great burden and pain” for him.
Buterin emphasized that the ETH Foundation should be seen as one of many nodes in the Ethereum ecosystem, not its central hub. He stated that the ETH Foundation will no longer aim to encompass the entire ecosystem, but will instead focus solely on issues essential for the stability and long-term sustainability of the Ethereum network – such as resistance to censorship, resistance to hijacking, openness, privacy, and security.
“My influence within the foundation will diminish over time. This is also the direction I personally want.”
Finally, Buterin emphasized that Ethereum is the most financially valuable asset in the ETH ecosystem. He noted that the foundation owns only about 0.16% of all ETH, which is less than some individual holders and far below the 10-50% typical for other blockchain foundations.
Vitalik also revealed that approximately 90% of his net worth is in ETH, with the remaining around $40 million in on-chain fiat funds allocated to open-source research and technology projects.
*This is not investment advice.
Continue Reading: Ethereum (ETH) Founder Vitalik Buterin Says “Change Has Begun at the Ethereum Foundation!”, Reveals the Foundation’s and His Own Crypto Assets!