Ethereum reclaims $1,650 as Ethereum Foundation cuts 20% of workforce

Key takeaways

• The Ethereum Foundation has reduced its workforce by 20% following the completion of a major reorganization.
• ETH is up by 1% and is now trading above $1,650.

The Ethereum Foundation (EF) has completed a broad organizational restructuring that includes reducing its workforce by approximately 20%, affecting 54 employees across multiple teams.

In a blog post published Tuesday, the Foundation said the changes conclude a months-long reorganization process tied to the implementation of its updated mandate and treasury management strategy.

Ethereum Foundation introduces new organizational structure

As part of the overhaul, the EF has reorganized its operations into five core clusters: Protocol Layer, Access Layer, User Layer, Community Layer, and Institutional Layer. Two additional clusters will oversee management and operational functions.

According to the Foundation, each cluster has been designed with specific responsibilities, accountability frameworks, and internal structures tailored to its objectives.

“Each domain of ...