The Ethereum Foundation appoints SEAL 911 co-founder Pascal Caversaccio to its board, expanding it to four members. The move signals a deeper focus on security and privacy amid a leadership overhaul that saw 54 job cuts in June. The appointment comes as former staff warn of a potential core-development funding crisis and new groups like Ethereum Institutional emerge to support the ecosystem.
pcaversaccio board appointment
- ▪Caversaccio authored "The Ethereum Cypherpunk Manifesto" in 2024 and "Ethereum Privacy: The Road to Self-Sovereignty" in 2025
- ▪Pascal Caversaccio is a co-founder and lead of the crypto security response group SEAL 911
- ▪The Ethereum Foundation (EF) has appointed security researcher Pascal Caversaccio, also known as “pcaversaccio,” to its board
- ▪Caversaccio's appointment to the Ethereum Foundation board is for an initial one-year, voluntary term
Board governance structure
- ▪The appointment is part of the Ethereum Foundation's strategic shift to deepen its focus on privacy and security
- ▪The appointment expands the Ethereum Foundation's board to four members
- ▪The other Ethereum Foundation board members are President Aya Miyaguchi, co-founder Vitalik Buterin, and Swiss counsel Patrick Storchenegger
- ▪The board sets the EF's strategic vision, acts as a "security council," and ensures the organization's compliance as a Swiss foundation
Ethereum Institutional funding round
- ▪The funding round for Ethereum Institutional was anchored by BitMine, SharpLink, and Ethereum co-founders Joe Lubin and Mihai Alisie
- ▪An independent non-profit, Ethereum Institutional, announced it has closed its initial ecosystem funding round
- ▪Ethereum Institutional was launched on July 1, 2026, to serve as a point of contact between financial institutions and the Ethereum ecosystem
Foundation staff reductions
- ▪The Ethereum Foundation cut 54 jobs, representing roughly one-fifth of its staff, on June 22, 2026
- ▪The appointment occurs as the Ethereum Foundation undergoes a broader leadership overhaul with several high-profile departures
- ▪Co-executive directors Tomasz Stańczak and Hsiao-Wei Wang both departed the Ethereum Foundation in 2026
Development funding pressures
- ▪The annual upkeep for core development client teams is approximately $30 million
- ▪Former EF coordinator Trent Van Epps warned that core-development funding could face a crisis within three to nine months
Story comments
Loading comments…