{"id":10160,"date":"2026-06-24T11:51:44","date_gmt":"2026-06-24T11:51:44","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=10160"},"modified":"2026-06-24T11:51:44","modified_gmt":"2026-06-24T11:51:44","slug":"ethereum-reclaims-1650-as-ethereum-foundation-cuts-20-of-workforce","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=10160","title":{"rendered":"Ethereum reclaims $1,650 as Ethereum Foundation cuts 20% of workforce"},"content":{"rendered":"

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Key takeaways<\/span><\/p>\n

    \n
  • The Ethereum Foundation has reduced its workforce by 20% following the completion of a major reorganization.<\/span><\/li>\n
  • ETH is up by 1% and is now trading above $1,650.<\/span><\/li>\n<\/ul>\n

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

    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.<\/span><\/p>\n

    Ethereum Foundation introduces new organizational structure<\/h2>\n

    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.<\/span><\/p>\n

    According to the Foundation, each cluster has been designed with specific responsibilities, accountability frameworks, and internal structures tailored to its objectives.<\/span><\/p>\n

    \u201cEach domain of work requires a different approach, is held accountable for different kinds of results, and has a different internal structure tailored to the work that needs to be done,\u201d the EF stated.<\/span><\/p>\n

    Ethereum co-founder Vitalik Buterin revealed in a post on X that the workforce reduction comes as the Foundation pursues a significant spending reduction strategy.<\/span><\/p>\n

    The EF plans to lower annual spending from approximately 15% of its remaining treasury before 2026 to a long-term target of 5% after 2030. As part of this effort, the Foundation is reducing its budget by roughly 40% this year.<\/span><\/p>\n

    Buterin acknowledged the human cost of the restructuring, rejecting the notion that the layoffs were simply an efficiency exercise.<\/span><\/p>\n

    \u201cOften, when an organization goes through something like this, people try to pretend that nothing of great value was lost,\u201d<\/em> Buterin wrote. \u201cI will not try to pretend this. I respect my EF colleagues far too much to pretend that there was not much that is lost.\u201d<\/em><\/span><\/p>\n

    The Foundation said affected employees will receive severance packages and transition assistance, similar to support provided to previous departing team members.<\/span><\/p>\n

    Ethereum price forecast: ETH risks further decline below key support<\/h2>\n

    Ethereum continues to face downside pressure, with liquidation data highlighting persistent weakness in market sentiment.<\/span><\/p>\n

    On the 4-hour timeframe, ETH continues to trade below its 20-day, 50-day, and 100-day Exponential Moving Averages (EMAs), located near $1,753, $1,901, and $2,064, respectively.<\/span><\/p>\n

    The cryptocurrency also remains below a previously broken descending trendline around $1,729 and a key horizontal resistance zone near $1,741. These technical barriers suggest the broader bearish structure remains intact.<\/span><\/p>\n

    Ethereum is now approaching the important support level at $1,611 after being rejected near the convergence of the descending trendline and the 20-day EMA.<\/span><\/p>\n

    \"ETH\/USD<\/p>\n

    A decisive break below $1,611 could expose the next major support zone at $1,524. If selling pressure intensifies, additional downside targets emerge at $1,404 and potentially $1,155.<\/span><\/p>\n

    Unless buyers reclaim key resistance levels, Ethereum\u2019s price action remains vulnerable to further losses in the near term.<\/span><\/p>\n

    \n
    \n
    Share this article<\/h6>\n
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    Analysis,ETH,ethereum price#Ethereum #reclaims #Ethereum #Foundation #cuts #workforce1782301904<\/p>\n","protected":false},"excerpt":{"rendered":"

    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<\/p>\n","protected":false},"author":1,"featured_media":10161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-10160","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eurozone"],"yoast_head":"\nEthereum reclaims $1,650 as Ethereum Foundation cuts 20% of workforce - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"ETH is up by more than 1% as the Ethereum Foundation reduces its workforce by approximately 20%, affecting 54 employees across multiple teams.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=10160\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum reclaims $1,650 as Ethereum Foundation cuts 20% of workforce\" \/>\n<meta property=\"og:description\" content=\"ETH is up by more than 1% as the Ethereum Foundation reduces its workforce by approximately 20%, affecting 54 employees across multiple teams.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=10160\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-24T11:51:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/06\/ChatGPT-Image-Jun-24-2026-10_57_14-AM.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1309\" \/>\n\t<meta property=\"og:image:height\" content=\"1201\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=10160\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=10160\",\"name\":\"Ethereum reclaims $1,650 as Ethereum Foundation cuts 20% of workforce - 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