The ethereum Foundation has completed a major internal restructuring.
Key updates:
• 54 employees (around 20% of the team) have been laid off • Lower operating costs could reduce future $ETH selling by the Foundation • The EF says this is part of preparing for Ethereum's next phase of growth • The Foundation will now focus more on executing its long-term roadmap
The team also stated that they'll support affected employees as they transition to new opportunities.
🇺🇸 The Senate is holding emergency 11th-hour sprint of meetings to speed up the crypto market structure bill before time runs out.
Main focus:
- Regulatory jurisdiction of what falls under the CFTC vs. the SEC - Exemptions for devs and validators of DeFi protocols - Stablecoin provisions around passive yield generation
A White House official also said last week that they’re aiming to pass the Clarity Act by July 4th.