The Ethereum Foundation is reducing its annual budget by roughly 40% and cutting about 20% of its staff as part of a sweeping restructuring intended to turn the nonprofit into a leaner, endowment-based organization.

Ethereum Foundation's reorganization may enhance strategic focus and efficiency, potentially accelerating Ethereum's growth and adoption globally.

The non-profit is cutting 54 jobs as it reorganizes into focused "clusters," following a succession of leadership departures.