Ethereum Foundation officially announces new leadership

The Ethereum ( $1,563.57 ) Foundation has announced a new leadership structure consisting of two co-directors of the Foundation, Hsiao-Wei Wang — a core researcher at the Ethereum ( $1,563.57 ) Foundation, and Tomasz Stańczak, the CEO of Nethermind — one of the largest execution clients on Ethereum ( $1,563.57 ) .

According to the March 1 announcement, Wang has seven years of experience as a researcher at the Ethereum ( $1,563.57 ) Foundation, and Stańczak has proven leadership in scaling an organization from an early-stage project to a global company.

Wang and Stańczak will assume their roles as co-directors of the Foundation on March 17. The Ethereum ( $1,563.57 ) Foundation added:

“Over the next few years, the Ethereum ( $1,563.57 ) 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.”

These new leadership changes come at a challenging time for the Ethereum ( $1,563.57 ) ecosystem as Ether (ETH) prices struggle to reclaim previous highs, fears that the network’s layer-2 scaling solutions are cannibalizing Ethereum ( $1,563.57 ) , and competition from new, high-throughput chains all erode investor confidence.

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Ethereum ( $1,563.57 ) Foundation changes gears amid complaints

Vitalik Buterin outlined a strategy to strengthen Ethereum ( $1,563.57 ) in a Jan. 23 blog post, which included increasing the blob count, thereby increasing transaction capacity and encouraging layer-2 solutions to pay a percentage of their fees to the base layer.

On Feb. 13, the Ethereum ( $1,563.57 ) Foundation deposited 45,000 ETH, worth roughly $120 million at the time, into the Aave, Compound, and Spark decentralized finance protocols to earn yield.

The Ethereum ( $1,563.57 ) community celebrated the move as it signaled that the Foundation had another source of revenue other than selling ETH into the market and suppressing prices.

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Social media presence and marketing have become a top priority for the Foundation in recent weeks, with the advent of the Etherealize organization, which is responsible for marketing Ethereum ( $1,563.57 ) to institutional investors.

Longtime Ethereum ( $1,563.57 ) developer Danny Ryan joined Etherealize as a co-founder for the initiative on March 1 alongside Vivek Raman.

The Ethereum ( $1,563.57 ) Foundation also sought a social media manager last month to overhaul its social media operations and bolster the network’s online presence.

Magazine: Proposed change could save Ethereum ( $1,563.57 ) from L2 ‘roadmap to hell’