ETH Gets Rejected at $2,400 Again as Ethereum Foundation Announces Its Biggest Reshuffle Yet

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• The Ethereum Foundation announced a major reshuffle of its protocol team, with three key members departing as the team works on Glamsterdam.

• The Foundation triggered concern after unstaking another $50 million on Monday as ETH got rejected once again at $2,400.

The Ethereum Foundation has had a rocky year, marked by exits and a disconnect with the community over ETH dumps. This trend continued this week, with the organization announcing exits and reshuffles while unstaking a sizable chunk of its ETH.

The Foundation announced that three of its long-term members, who have been leading the Protocol team, would be departing. The three are Barnabé Monnot, Tim Beiko, and Alex Stokes. Barnabé and Tim will be departing permanently after years of working with the Foundation; Tim has been especially pivotal and led the developers in implementing the Merge, EIP-1559, Pectra, and more. Stokes will be taking a sabbatical, but his return to active duty was not disclosed.

There’s a new chapter starting for the Protocol cluster. We’re welcoming new leads and coordinators, and continuing our work toward Glamsterdam, Hegotà, and the Strawmap.

More in the blog below 👇

— Will Corcoran (@corcoranwill) May 11, 2026

The three will be replaced by Will Corcoran, Kev Wedderbrun, and Fredrik. Will has been working as a research coordinator, while Kev has been leading the zkEVM team. Fredrik has been leading protocol security efforts and spearheaded the Trillion Dollar Security project to upgrade Ethereum’s security for a billion projected users.

The reconstituted Protocol team will focus on shipping Glamsterdam, Ethereum’s next hard fork, scheduled for later this year, and laying the groundwork for Hegota, the upgrade that comes after it. The Foundation says that devnets for Glamsterdam are now live, “and scoping for Hegotà is well underway.”

The exits are just the latest in a string of changes at the Ethereum Foundation over the past 12 months. Last month, veteran executive Josh Stark left the entity after seven years. In February, Tomasz Stanczak stepped down from his role as the co-executive director of the organization.

In March, the Foundation was reported to have forced its employees to sign a loyalty pledge, which some developers were against.

Ethereum Foundation Unstakes $49M in Ether, ETH Rejected at $2,400

Away from the boardroom, the Ethereum Foundation looks set to continue its selling spree. On Monday, it unstaked ETH worth $48.99 million at press time, data from Arkham Intelligence shows.

Arkham revealed that the Foundation unstaked from Lido, withdrawing the wrapped staked ETH (wstETH) in batches of 811 tokens. This has reduced the total staked ETH by the entity from 70,000 to just over 52,000 tokens. The ETH market is watching closely as the organization has been liquidating its tokens, most recently selling 20,000 ETH to Bitmine in two transactions, as we reported.

The sales come as ETH struggles on the market. The token trades at $2,300, losing 1.3% in the past day as trading volume dipped 36%.

ETH now trades below its 100-hourly Simple Moving Average, with the key short-term resistance now at $2,365. Analysts say the token must consolidate above $2,380 to have a chance of breaching the** $2,400** major resistance, where it has been rejected continuously since the start of February.