The Market Maker

#VitalikPledgesLeanerEFFewerETHSales Vitalik Buterin has announced that the Ethereum Foundation (EF) will become a “smaller ship,” selling fewer ETH and narrowing its mission to focus on core principles like censorship resistance, openness, privacy, and security. His influence within the EF will continue to shrink as the board expands, amid a wave of senior researcher departures in 2026. Outline Objective from Buterin’s Statement - Restructuring: EF is undergoing a reorganization, with interim co-executive director Bastian Aue and president Aya Miyaguchi leading much of the transition. - Reduced ETH Sales: EF will sell less of its ETH reserves, prioritizing longevity over breadth. Currently, EF holds about 0.16% of all ETH, far less than rival blockchain foundations (10–50%). - Board Expansion: The EF board is expanding to dilute individual influence, including Buterin’s own. He emphasized that his role will continue to shrink, which he supports. - Researcher Exodus: At least eight senior contributors have left or announced departures in 2026, including five in May. Notable exits include Tomasz Stanczak (co-executive director) and Alex Stokes (Protocol Cluster co-lead, now on sabbatical).