JUST IN: The Ethereum Foundation is cutting its budget by 40% and, reducing staff by 20%, and reorganizing around 5 divisions. Vitaik is not pretending that nothing valuable is being lost: The tradeoffs include a smaller Devcon, the wind-down of PSE, a shift in Ethereum’s multi-client model, and less institutional work. The long-term vision: finish Ethereum’s ambitious “third iteration,” then move toward a leaner, Bitcoin-like protocol with a much higher bar for new features. Full story 👇 https://thedefiant.io/news/blockchains/ethereum-foundation-cuts-20-of-staff-in-sweeping-reorganization(The Defiant)