Ethereum co-founder Vitalik Buterin said the Ethereum Foundation (EF) is entering a period of “gentle austerity” as it seeks to deliver an aggressive scaling plan 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In a post on X, Buterin said he has personally withdrawn 16,384 ETH, worth about $17.3 million at current market prices, to support a broader effort to build an open source, secure and verifiable “full stack” of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 traded 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 new areas like biotech and public health, along with privacy protection tools like encrypted messaging and local-first software.
The Ethereum Foundation will remain focused on developing blockchain, Buterin said, but with an emphasis on “Ethereum for people who need it” — prioritizing decentralization, self-sovereignty, privacy and security over enterprise 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 fund holds about $558 million in crypto assets, according to blockchain research firm Arkham. Vitalik, meanwhile, has $666 million.
