· Budget cuts and layoffs: The foundation announced an annual budget reduction of approximately 40% and layoffs of 54 employees (20%), aiming to lower the annual spending ratio from 15% to about 5% by 2030.

· Architectural restructuring: The foundation has reorganized into five new clusters, such as the protocol layer and access layer.
· Fulfilling grant commitments: The foundation has completed its five-year funding commitment to Argot Collective, and 4,938 stETH will be unlocked in two batches on July 1 and July 1, 2027.

⚙️ Technical progress: Glamsterdam upgrade gathering momentum

· Planned timeline: Official confirmation places the upgrade in the second half of 2026.
· Core objectives: Introduce parallel processing, ePBS (proposer-builder separation within the protocol), and prevent database bloat.

💎 Summary
Overall, although Ethereum is undergoing its most severe market test since 2021, the shift of ETF funds on July 1 and the contrarian accumulation by companies such as Sharplink show confidence from some long-term capital. Coupled with the Glamsterdam upgrade plan aimed at achieving L1 parallelization scheduled for the second half of the year, short-term market maneuvering and long-term technology building are progressing in parallel. $ETH