Ethereum Veteran Danny Ryan Joins Etherealize, Boosting Institutional Outreach

Ethereum developer Danny Ryan has joined Etherealize as a co-founder, marking a significant move in the Ethereum ecosystem's institutional outreach. Ryan, a long-time Ethereum developer, will work alongside Vivek Raman to bridge the real world to Ethereum and vice versa, focusing on real adoption, commonsense regulation, ecosystem development, and critical R&D across various layers.

The announcement comes amidst a wave of leadership changes at the Ethereum Foundation, which guides the development of the Ethereum consensus layer and ecosystem. Investors have expressed concerns due to Ethereum's poor price performance, with the cryptocurrency trading well below its 200-day exponential moving average.

The Ethereum Foundation has undergone an administrative overhaul, with Vitalik Buterin assuming sole authority over its leadership. As part of this restructuring, the Foundation has spun off new organizations, including Etherealize, which will educate institutional investors about Ethereum and act as a marketing arm for the world's largest smart contract ecosystem.

Following the launch of Etherealize, the Ethereum Foundation established the Silviculture Society, an advisory group tasked with upholding Ethereum's core values of open-source development, privacy, security, decentralization, and censorship resistance. The group consists of 15 members outside the Ethereum Foundation, who will advise the non-profit organization informally.

Ethereum has struggled to reclaim its previous all-time high, causing a collapse in investor confidence. Investors have called on Vitalik Buterin to steer Ethereum in a new direction, with the Pectra hard fork being one of the proposed solutions to get Ethereum back on track.