Ethereum Foundation Slashes 40% Budget, 20% Staff in Major Reset

Vitalik Buterin: Ethereum Foundation to slash budget 40% and cut 20% of staff The restructuring includes a wind-down of the Privacy and Scaling Explorations unit, smaller Devcon, and a shift toward an endowment model targeting 5% annual spending by 2030. Co-executive director Hsiao-Wei Wang resigned, bringing senior departures since January to nine. 12

Bitcoin slips toward $62,000 as chip stock rout deepens and Fed hawkishness weighs Bitcoin fell 2.1% to $62,546, with spot ETFs logging a record $6 billion 30-day outflow. Wintermute warned tighter Fed policy could slow liquidity through ETFs, stablecoins, and digital asset treasuries. 345

Bitcoin long-term holders slash selling to lowest level since late 2024 The 90-day average of coins spent by OGs dropped to 962 BTC, indicating profit-taking has dried up at current ~$63,000 levels, which CryptoQuant analysts call a potential 'break-even' point for five-year holders. 6

UK BoE scraps £20,000 per-person cap on sterling stablecoins, sets aggregate £40B limit The final policy replaces holding limits with a temporary £40 billion aggregate cap per systemic coin, and requires 70% reserves in short-term UK gilts. The move opens the door for institutional sterling stablecoin adoption. 7

FinCEN and federal banking agencies propose customer ID rules for stablecoin issuers The rule would require permitted payment stablecoin issuers to establish a customer identification program under the GENIUS Act, mirroring existing credit union CIP requirements. Public comment period is 60 days after Federal Register publication. 8

Ethereum monthly active users surge 86% year-over-year to 13.2 million in Q1 Tokenized asset market cap on Ethereum averaged $203.4 billion, with stablecoins at $178.9 billion. Fees fell 47.9% as scaling improved, while staking ratio reached 31%. 9