• Ethereum Foundation cut 54 positions, reducing its workforce by about 20% as part of a restructuring.
• The changes come as Ethereum (CRYPTO:ETH) traded near US$1,650 during a broader crypto market downturn.
• The foundation said the overhaul will focus resources on core priorities and long-term protocol development.

Ethereum Foundation announced 54 job cuts, equal to roughly 20% of its workforce, as part of a restructuring designed to align resources with its long-term development priorities.

The reduction concludes a months-long review under the foundation’s Mandate and Treasury Management Policy and follows the recent departure of co-executive director and board member Hsiao-Wei Wang.

“These decisions were hard, but they are necessary,”…