Lookonchain APP

App Store

Vitalik: Ethereum Foundation (EF) will cut around 40% of its budget this year, shifting to a long-term endowment model and streamlined operational structure.

1 days ago

Ethereum co-founder Vitalik Buterin published a post announcing that the Ethereum Foundation (EF) has cut its annual budget by roughly 40% as part of its fiscal transition plan. Per its previously released fund management policy, EF is gradually shifting from a "spending organization" to an endowment-based model, with the goal of reducing its annual expenditure ratio from around 15% to roughly 5% after 2030. The foundation noted it will accept unavoidable personnel and resource adjustments, acknowledging the loss of some capabilities and experience. In this restructuring, EF has cut about 54 employees, accounting for roughly 20% of its total team. Vitalik added that many of these departing members may still contribute to the Ethereum ecosystem as external participants in the future. Meanwhile, the foundation is pivoting its strategic focus to a more "lightweight" approach to protocol governance and development, including advancing the long-term "Strawmap" roadmap covering core protocol upgrades such as consensus mechanisms, privacy technologies, account models, and state structures, and pushing Ethereum toward its third phase of evolution. In structural adjustments, EF is moving away from its "multi-client redundancy first" model, shifting to development methods centered on specialized division of labor and AI-assisted formal verification. The Privacy and Scaling Exploration (PSE) research team will be restructured, moving from exploratory R&D to focused engineering implementation, while the scale of ecosystem events like Devcon will be gradually reduced. Additionally, EF will reduce investment in large cross-domain projects going forward, placing more emphasis on protocol security and high-value improvements, while encouraging more innovative work to be carried out outside the foundation. Despite the leaner path, Ethereum will continue to reinforce its core positioning as a highly censorship-resistant, long-term stable protocol.

Relevant content

Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

3 hours ago

Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.

According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

3 hours ago

Bitcoin falls below $60,000

According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.

3 hours ago

US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

3 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

3 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

3 hours ago