- The Ethereum Foundation converted 1,000 ETH into stablecoins to fund its ongoing operational expenses and grant programs.
- Organizational changes include new leadership, staff reductions, and a paused grant program for refocusing.
The Ethereum Foundation recently converted 1,000 ETH into stablecoins, a move valued at roughly $4.5 million. These funds are earmarked to finance ongoing research, development efforts, and grant programs. This treasury operation was conducted through CoW Swap, a decentralized protocol that aggregates liquidity from multiple sources to find optimal pricing without a central intermediary.
This financial activity occurs alongside several organizational shifts. The foundation’s Ecosystem Support Program has temporarily stopped accepting open grant applications, citing an overwhelming number of submissions.
It will now focus its financial support on the most pressing technical needs of the network. Internally, leadership changes saw Hsiao-Wei Wang and Tomasz K. Stańczak elevated to co-executive directors. These internal promotions were followed months later by staff reductions and a restructuring of the core development team.
The foundation’s treasury strategy has a dual focus: generating returns above a specific benchmark and acting as a steward for the Ethereum network. This latest conversion follows a larger, separate plan announced in September to sell 10,000 ETH over time.
The network continues to be the central hub for decentralized finance, currently accounting for about 68% of total value locked across all DeFi platforms. Ethereum co-founder Vitalik Buterin recently emphasized the importance of low-risk DeFi applications, suggesting they could create a sustainable revenue base for the ecosystem, much like Google’s search business.
