The Ethereum Foundation is undergoing a major leadership change as Aya Miyaguchi – CEO since 2018 – will leave her current position. This move comes amid criticism towards Ethereum for slow progress in the ecosystem, while losing ground to rival blockchains like Solana.

Aya Miyaguchi Steps Down as CEO

📢 Aya Miyaguchi will take on the new role of President #EthereumFoundation – a nonprofit organization based in Switzerland.

📅 She has planned to change roles for a year now, but only officially announced it recently. In the blog post, Miyaguchi shared that this is an opportunity for her to focus on what truly matters to her.

📌 In her new role, Miyaguchi stated that she will continue to support Ethereum Foundation's partnerships instead of directly managing internal operations.

⏳ It is unclear who will replace Miyaguchi as CEO, but Vitalik Buterin has suggested that a new leadership structure will be announced soon.

Why Does the Ethereum Foundation Need Restructuring?

Ethereum has faced criticism for various reasons recently:

⚡ Ethereum is said to be losing its advantage to rival blockchains like Solana.
⚡ Leadership of the Ethereum Foundation is seen as ineffective, not providing enough support for developers.
⚡ Even in a bullish market,$ETH it has underperformed compared to Bitcoin and Solana.

The price of ETH is currently around $2,500, down 6% in the last 24 hours, according to CoinGecko.

💰 Despite the crypto market experiencing strong growth, ETH is still trading at only half of its peak of $4,878 in 2021.

📉 Meanwhile, Bitcoin and $SOL set new peaks last month, further highlighting Ethereum's lag.

Where Will the Ethereum Foundation Go?

📜 Miyaguchi affirmed that the Ethereum Foundation is not a traditional company, but an organization tasked with maintaining neutrality and supporting the development of Ethereum in a decentralized direction.

🌱 "Ethereum does not develop like a machine, but like a garden – strong because of its biodiversity," she wrote.

💡 Under Miyaguchi's leadership, Ethereum has made significant progress:
✅ Transitioned to a Proof-of-Stake (PoS) consensus mechanism in 2022, reducing carbon emissions by 99%.
✅ Focused on Layer-2 to expand transaction processing capabilities and reduce fees.

⚠️ However, challenges such as scalability issues, high transaction fees, and increasing competition remain significant hurdles for Ethereum.

👀 The crypto community is awaiting the new leadership strategy of the Ethereum Foundation, as well as how the organization will shape Ethereum's future under increasing market pressure. #anhbacong