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Ether (ETH) is trading at $1,672 on June 24, down 0.5% on the day and 5.3% over the last seven days, as per CoinGecko data.
The modest green session follows a period of continued price weakness, with ETH trading below $1,700 through June 23, the same day the Ethereum Foundation announced the most significant restructuring in its history.
The Ethereum Foundation confirmed on June 23 that it is parting ways with 54 employees, roughly 20% of its workforce, concluding what it described as a months-long reorganization tied to its March 2026 Mandate and its June 2025 Treasury Management Policy.
Today, the EF is changing shape, concluding a months-long process of reorganization as part of the implementation of the Mandate and the Treasury Management Policy.
We come out of this process with the structure, activities, and people necessary for execution on the critical…
— Ethereum Foundation (@ethereumfndn) June 23, 2026
The foundation now operates across five domain-focused clusters: Protocol Layer, Access Layer, User Layer, Community Layer, and Institutional Layer, alongside separate operations and management functions. In its own words, the organization emerges from the process “leaner and more focused,” with affected staff receiving severance equal to the higher of one month’s pay per year worked or local statutory minimums, plus transition support and ecosystem placement assistance.
Ethereum co-founder Vitalik Buterin disclosed the financial scale of the change in a separate post on X the same day, stating the foundation is decreasing its budget by 40% in 2026 as it shifts from spending 15% of its treasury annually to a long-term endowment target of 5% per year after 2030.
This year, the EF is decreasing its budget by roughly 40%, which entails some difficult decisions. The goal of the decreases was set out in the Treasury Management Policy last year: the EF is transitioning into being a long-term-oriented endowment-based organization, shifting…
— vitalik.eth (@VitalikButerin) June 23, 2026
Buterin was direct about the cost. “I respect my EF colleagues far too much to pretend that there was not much that is lost,” he wrote on X. Among the named casualties is the Privacy and Scaling Explorations (PSE) unit, the foundation’s in-house zero-knowledge research team, which is being wound down entirely.
The restructuring follows the June 18 resignation of co-executive director Hsiao-Wei Wang, bringing the total senior departures since January to nine.
At Least Eight Senior Ethereum Foundation Members Have Departed in Five Months
According to Unchained, Ethereum Foundation co-executive director and board member Hsiao-Wei Wang has resigned, effective Thursday. The report said the departure comes after fellow co-executive… pic.twitter.com/kqJQUleiYG
— Wu Blockchain (@WuBlockchain) June 20, 2026
It also lands one day after Ethlabs, an independent research lab founded by former EF researchers and funded by Bitmine, SharpLink, and Joe Lubin, launched on June 22. The foundation’s own blog post implicitly acknowledged that pattern, framing itself as becoming “one of many guardians” of Ethereum rather than the network’s sole steward.
Commentary across Ethereum’s community on the restructuring itself has been divided, independent of the precise price impact.
Solana co-founder Anatoly Yakovenko publicly argued that the leaner structure would let the foundation move faster and that it is ultimately bullish for Ethereum.
Santiment’s social sentiment data shows Ethereum’s positive-to-negative commentary ratio at one of its most bearish levels of 2026, a level the company has historically flagged as a contrarian indicator ahead of price recoveries. However, it stops short of calling a bottom outright.
🧑💻 Ethereum’s staff cuts have split crypto. After 20% of staff were let go from the foundation, should it be viewed as simply a leaner focus, or a sign of deeper fragility? We look at the bullish & bearish takes, growing FUD, and $ETH’s next move. 👇https://t.co/JhR1e4gqLT pic.twitter.com/oKEBzhKXFB
— Santiment Intelligence (@SantimentData) June 24, 2026
The more substantive debate concerns execution risk. Former EF contributor Trenton Van Epps warned last week, before the cuts were confirmed, that Ethereum’s core development ecosystem faces a structural funding gap within three to nine months as the Client Incentive Program expires alongside these treasury reductions. With PSE’s wind-down, that warning now specifically extends to Ethereum’s privacy and zero-knowledge roadmap, which has no remaining institutional home within the foundation.
Technicals and the daily ETH/USD chart from TradingView show the price holding above its session low of $1,656.28.
The volume-weighted moving average (VWMA) at $1,679.5 and the Hull Moving Average (MA) at $1,709.4 sit just above the current price, the immediate resistance levels to watch.
The broader MA stack remains well above the spot price: 10-day exponential moving average (EMA) $1,723.1, 10-day simple moving average (SMA) $1,736.1, 20 EMA $1,757.3, 20 SMA $1,696.9, 30 EMA $1,810.1, 30 SMA $1,795.2, 50 EMA $1,902.2, 50 SMA $1,966.5, 100 EMA $2,064.9, 100 SMA $2,093.1, 200 EMA $2,339.4, 200 SMA $2,350.3.
The relative strength index (RSI) reads 40.6, in neutral territory.
The average directional index (ADX) reads 31.9, indicating fading directional momentum on both sides.
The moving average convergence/divergence (MACD) at -62.0 continues showing an upward signal.
Immediate support sits at the session low of $1,656.28. The VWMA at $1,679.5 is the first level to reclaim, followed by the Hull MA at $1,709.4.
The foundation said it will share more details on its new structure “in the coming weeks and months,” leaving the practical implications of the institutional and protocol clusters still to be defined.
ETH has fallen roughly 60% from its August 2025 peak, a steeper drawdown than Bitcoin’s (BTC) 48% decline over the same window, a backdrop of sustained relative weakness that predates this week’s governance news.
Whether the leaner foundation accelerates execution, as Yakovenko predicts, or the loss of institutional knowledge slows Ethereum’s roadmap will be settled in the coming quarters.
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