Ethereum Foundation appoints SEAL 911 co-founder to board

Jul 29, 2026

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.