The foundation finally decided to make some cuts, slashing the budget by 40% and laying off 20% of the staff, as confirmed by Vitalik himself.
In the past, we used to criticize the EF for only cashing out and not doing the work, but now they’re really tightening the belt, aiming to reduce annual expenses to just 5% of the treasury.
Cutting 80 out of 400 isn’t insignificant, but if they actually follow through, it’s better than just making empty promises. They’re moving away from the money-burning model, which is a subtle bullish signal for ETH's long-term deflation expectations.
Just wondering where the saved funds will be directed; hopefully, they won't just throw it at filling the L2 pit again. #EF $ETH
In the past, we used to criticize the EF for only cashing out and not doing the work, but now they’re really tightening the belt, aiming to reduce annual expenses to just 5% of the treasury.
Cutting 80 out of 400 isn’t insignificant, but if they actually follow through, it’s better than just making empty promises. They’re moving away from the money-burning model, which is a subtle bullish signal for ETH's long-term deflation expectations.
Just wondering where the saved funds will be directed; hopefully, they won't just throw it at filling the L2 pit again. #EF $ETH