Vitalik Buterin Says Ethereum Foundation Cut This Year’s Budget by 40%
Summary
- Vitalik Buterin said the Ethereum Foundation cut its budget by about 40% this year.
- He said the foundation previously spent about 15% of its remaining funds each year, but will lower that to about 5% after 2030.
- He emphasized that the Ethereum Foundation will continue pursuing Ethereum’s Strawmap roadmap after cutting about 20% of its workforce.
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Ethereum co-founder Vitalik Buterin said the Ethereum Foundation cut its budget by about 40% this year.
In a June 23 post on X, formerly Twitter, Buterin wrote that the foundation is trying to become an endowment-based organization with a long-term focus. It had previously spent about 15% of its remaining funds each year, but plans to reduce that to about 5% after 2030.
He said the budget reduction was not merely an efficiency measure and involved real sacrifices. The organization has lost some important capabilities, he added.
Buterin said the Ethereum Foundation will continue advancing Ethereum’s Strawmap roadmap, including work on consensus, proof systems, privacy, account models and other core infrastructure.
He added that this would be Ethereum’s third generation. The first was early Ethereum, and the second was the Merge.
The Ethereum Foundation had previously announced that it completed an organizational restructuring and cut 54 jobs, or about 20% of its workforce.
