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😏 Ethereum Foundation to Cut Budget by 40%
Vitalik Buterin announced that the Ethereum Foundation will reduce its budget by approximately 40% this year. The plan includes shutting down the Privacy and Scaling Explorations (PSE) unit and narrowing its institutional strategy.
The foundation will also hold smaller, less expensive Devcon conferences and focus on specialized developer teams using AI for formal code verification. Currently, it spends about 15% of its reserves annually but aims to cut this to 5% per year after 2030.