Hsiao-Wei Wang and Tomasz Stańczak will take on the roles of co-CEOs, effective March 17, according to an announcement on March 1. The restructuring comes shortly after Aya Miyaguchi, who has served as EF's CEO since 2018, transitioned to the position of president of the organization.

The Ethereum Foundation's Transformation

Under the leadership of Wang and Stańczak, EF is committed to continuing to guide Ethereum's development along core values ​​of open source, security, privacy, and permissionless global collaboration.

The organization also emphasized that Ethereum will undergo a “challenging transformation” in the coming years. The blockchain is gradually moving from a project serving a small group of enthusiasts to a solid base layer for the global financial system, with strong censorship resistance.

Vision and experience of the two co-CEOs

Hsiao-Wei Wang has been a core researcher at the Ethereum Foundation for the past seven years. She has extensive knowledge of the R&D process, the development community, and has played an important role in the development of the Ethereum beacon chain. In addition, Wang is also an active Ethereum community builder, organizing many important events in Taiwan.

Meanwhile, Tomasz Stańczak comes from the software development field, notably leading the team that built Nethermind – one of Ethereum’s largest implementation clients. With experience in management and organizational development, Stańczak is expected to bring significant improvements to the Ethereum Foundation. He will continue to be involved with Nethermind but will no longer serve as CEO.

Aya Miyaguchi takes on the role of president

Just a week before announcing the leadership changes, Aya Miyaguchi announced that she would be taking on the role of president of the Ethereum Foundation. In a post on February 25, Miyaguchi said that the new role would allow her to expand her influence and maintain connections between the Ethereum Foundation and other organizations.

However, the change comes amid mixed opinions in the Ethereum community about her leadership and the direction of the EF. Miyaguchi acknowledged that there have been “tense moments” and debates about the performance of the network and the value of ETH, but insisted that Ethereum remains true to its core principles – a decentralized ecosystem that does not belong to anyone.

Ethereum Foundation Provides Legal Support to Alexey Pertsev

Also during this time, the Ethereum Foundation announced that it will donate $1.25 million to provide legal support to Alexey Pertsev, a developer involved in the Tornado Cash platform. Pertsev was sentenced to 64 months in prison in the Netherlands in May 2024 for money laundering but has now been released under electronic supervision.

ETH Price Movement

Aside from the leadership changes, ETH price has recorded a 5.2% increase in the past 24 hours, reaching $2,356. However, looking at the longer time frame, ETH is still in a downtrend with a decrease of 12% in a week, 27% in a month, and 31% in a year. ETH's current market capitalization is $284.28 billion, down 52% from its all-time high of $4,878 in November 2021.

The Ethereum Foundation's leadership restructuring and commitment to sustainable Ethereum development could have important implications for the blockchain ecosystem in the coming period.