Ethereum co-founder Vitalik Buterin said the Ethereum Foundation (EF) is entering a period of “mild austerity,” as it seeks to deliver an aggressive scaling roadmap while ensuring it can sustain itself over the long term.
In a post on X, Buterin said he has personally withdrawn 16,384 ETH, worth roughly $17.3 million at current market prices, to support a broader effort to build an open-source, secure and verifiable “full stack” of software and hardware.
Ether was trading around $2,720 on Tuesday, down significantly from its October peak near $4,831, as crypto markets have pulled back in recent weeks.
Buterin framed the initiative as extending beyond Ethereum itself, with potential applications across finance, communications, governance, operating systems and secure hardware. He also pointed to emerging areas such as biotech and public health, alongside privacy-preserving tools like encrypted messaging and local-first software.
The Ethereum Foundation will remain focused on developing the blockchain, Buterin said, but with an emphasis on “Ethereum for people who need it” — prioritizing decentralization, self-sovereignty, privacy and security over corporate adoption.
Buterin also said he is exploring decentralized staking options that could generate additional funding through staking rewards over time.
The announcement comes as the Foundation holds about $558 million worth of crypto assets, according to blockchain analytics firm Arkham. Vitalik, meanwhile, holds $666 million.