Ethereum Foundation Cuts 20% of Staff, US Senate Approves Four-Year Fed CBDC Ban
What happened: The Ethereum Foundation (EF) eliminated 54 positions—about 20% of its workforce—and slashed its budget by 40%, completing a restructuring process that began in June 2025.
What happened: The Ethereum Foundation (EF) eliminated 54 positions—about 20% of its workforce—and slashed its budget by 40%, completing a restructuring process that began in June 2025. Co-executive director Hsiao-Wei Wang resigned after eight years, leaving Bastian Aue as the sole executive lead. Meanwhile, the US Senate passed the 21st Century ROAD to Housing Act with an 85-5 vote, which includes a four-year ban on a Federal Reserve-issued central bank digital currency (CBDC) through 2030. The bill, which features a stablecoin carve-out, now returns to the House before heading to President Trump's desk. In a notable policy reversal, former BIS general manager Agustín Carstens publicly endorsed stablecoin coexistence with fiat currencies.
Why it matters: The EF's restructuring signals a maturing phase for the organization, with cost discipline and leadership consolidation after a year-long transition. The US CBDC ban, attached to a housing bill, reflects growing legislative skepticism toward state-backed digital currencies, even as stablecoins gain regulatory acceptance. Carstens' shift underscores a broader institutional pivot toward stablecoin integration, potentially reshaping global digital finance norms.