Ethereum co-founder Vitalik Buterin has said that the Ethereum Foundation (EF) is entering a period of “mild austerity” as it seeks to realize an aggressive expansion roadmap while ensuring its long-term viability.
Buterin said in a post on X that he personally withdrew $16,384. $ETHworth approximately $17.3 million at current market prices, will support a broader effort to build a “full stack” of open source, secure, and verifiable software and hardware.
ether $ETH$2,720.41 The stock was trading at around $2,720 on Tuesday, a significant drop from its October peak of around $4,831, as the cryptocurrency market has retreated in recent weeks.
Buterin expanded this vision beyond Ethereum itself, envisioning potential applications across finance, communications, governance, operating systems, and secure hardware. He also pointed to emerging areas such as biotechnology and public health, along with privacy tools such as encrypted messaging and local-first software.
Buterin said the Ethereum Foundation will continue to focus on blockchain development, but will focus on “Ethereum for people who need it,” prioritizing decentralization, self-sovereignty, privacy, and security over corporate adoption.
Buterin also said he is exploring decentralized staking options that can generate additional funds through long-term staking rewards.
The announcement comes as the foundation holds about $558 million worth of crypto assets, according to blockchain analysis firm Arkham. Vitalik, on the other hand, has $666 million.
