Ethereum Foundation Appoints New Co-Executive Directors Amidst Leadership Shakeup
1min read The Ethereum Foundation (EF), the non-profit organization backing the development and research of the Ethereum blockchain, has announced the appointment of Hsiao-Wei Wang and Tomasz Stańczak as its new co-executive directors. This move comes following a leadership reshuffle, which saw Aya Miyaguchi stepping down from her role to become the EF's new president.
The leadership change follows intense debate within the Ethereum community regarding the EF's role in the ecosystem. Some have criticized the organization and its leadership for the blockchain's token, ether (ETH), lagging behind other cryptocurrencies in price, and for attracting fewer new developers than its competitor, Solana.
Wang, who has been with the EF since 2017, has contributed to research on concepts like sharding and Ethereum's major overhaul, "the Merge." Stańczak, on the other hand, founded Nethermind, one of the largest software clients operating the Ethereum blockchain.
The EF acknowledged the challenges ahead, stating, "Over the next few years, the Ethereum ecosystem needs to navigate the challenging transition from being an early-stage project serving a small number of enthusiasts to being a robust permissionless censorship-resistant base layer of the global finance and software stack."
In addition to Wang and Stańczak assuming their new roles, former EF researcher Danny Ryan announced his move to Etherealize, a new project aimed at bringing ETH to Wall Street. Founded by former banker Vivek Raman, Etherealize seeks to bridge the gap between Ethereum and the banks by educating institutions and marketing ETH as a serious crypto asset.
Ryan expressed his intentions on X, stating, "I intend to build a new Ethereum institution with Real World Ethereum as its north star. The world is ready to come on-chain, and we're here to do the hard work necessary to make it happen."
