The Ethereum Foundation seems to be in the throes of a turbulent period. For some time now, Ethereum holders have voiced their grievances about the network’s leadership, alleging a preoccupation with specialized technical objectives over the public sentiment and political considerations that other top industry projects and companies deem crucial.
The unyielding stagnation in ETH’s price amid a historic crypto bull run has only added fuel to the fire, transforming the issue into a meme. In response to these concerns, the Ethereum Foundation appears to have taken a new approach last week, revamping its X (formerly Twitter) account with a more public-facing, playful language.
This led to speculation that the Foundation was in the process of overhauling its leadership team, beginning with the replacement of the long-serving executive director, Aya Miyaguchi. Ethereum creator Vitalik Buterin confirmed that the Foundation was indeed making “large changes,” but clarified that this transformation had been under way for almost a year.
Despite confirming efforts to strengthen ties with ecosystem actors and become more involved with app developers and everyday users, Buterin was adamant in stating what Ethereum would not be doing. He dismissed the notion of succumbing to Crypto Twitter’s demands to shift ideological stances and emphatically stated that Ethereum would not be “aggressively lobbying regulators and powerful political figures.”
This statement was presumably a reference to the recent efforts of several crypto industry leaders to court U.S. President Donald Trump. Yet, in an unexpected turn of events, Buterin dramatically changed his stance, acquiescing to Charlotte Fang, the creator of the controversial Milady NFT collection, and adopting a Milady profile picture.
The Ethereum Foundation appears to be on the brink of further transformation. On Monday, it established a wallet funded with 50,000 ETH (worth approximately $165 million at the time of writing) to participate in the Ethereum decentralized finance ecosystem and support related projects.
This move was met with enthusiasm by Ethereum DeFi leaders such as Aave founder Stani Kulechov, who hailed the announcement as a significant breakthrough. Nevertheless, this has not fully pacified the crypto community. When a crypto influencer suggested that Miyaguchi should be pressured into resignation to boost ETH’s price, Buterin emphatically repudiated the notion.
In a series of tweets, Buterin condemned the toxic social media environment and clarified that he alone would decide the future leadership of the Ethereum Foundation. He proceeded to share a number of disparaging posts about Ethereum Foundation employees and ended his response by repeating the word “Milady.”
Buterin’s recent actions have been interpreted by many industry builders and observers as a shift to “wartime mode.” The apparent change in attitude, potential leadership change, and DeFi initiatives all suggest a founder who is not only in the trenches and receptive to feedback, but also willing to fight for Ethereum’s future. Despite the challenges, Buterin appears defiant, possibly embodying a Bronze Age mindset as he navigates the ongoing turbulence at the Ethereum Foundation.
