Hsiao-Wei Wang has resigned as co-executive director and board member of the Ethereum Foundation, ending her involvement with the organization after nearly a decade. Her departure follows a sabbatical earlier this year and comes amid a broader leadership reshuffle within the foundation.
Wang took on the co-executive role in March 2025 as part of an internal restructuring. Before that, she was a core Layer 1 researcher, contributing to key components of Ethereum’s shift to proof-of-stake, including sharding, consensus mechanisms, and the Beacon Chain.
Her exit adds to a growing list of senior departures. In recent months, co-executive director Tomasz Stańczak stepped down, while Protocol cluster leads Barnabé Monnot and Tim Beiko also left their roles. Alex Stokes, the remaining Protocol lead, is currently on sabbatical, and former executive Josh Stark resigned in March after seven years.
Leadership changes tied to strategic reset
The leadership turnover coincides with a shift in the foundation’s strategic direction. Earlier this year, the organization introduced a new operational framework centered on censorship resistance, open-source development, privacy, and security, internally referred to as CROPs.
The rollout of this mandate sparked criticism after reports that staff were asked to sign a loyalty statement tied to the framework, raising concerns within the broader Ethereum community.
At the same time, ConsenSys founder Joe Lubin outlined a plan to further decentralize the foundation’s structure. The proposal would split operations into three independent groups focused on core protocol development, scalability and usability, and institutional engagement, with the central body maintaining oversight of CROPs principles.
Vitalik Buterin acknowledged Wang’s contributions, particularly during what he described as a challenging administrative period for the organization.
Foundation narrows focus as ecosystem expands
The recent departures come as Ethereum’s leadership signals a deliberate shift toward a narrower organizational role. Buterin has stated that the foundation will prioritize longevity over expansion, focusing strictly on the CROPs principles and stepping back from broader ecosystem responsibilities, including any involvement in market performance.
Lubin framed the restructuring as a necessary evolution rather than a crisis, emphasizing the importance of separating protocol development from commercialization to preserve Ethereum’s neutrality. Under this model, other entities in the ecosystem are expected to play a larger role in driving growth and institutional adoption.
Network activity grows despite uncertainty
Despite the internal changes, Ethereum’s on-chain activity continues to expand. Data from the first quarter of 2026 shows monthly active users reached a record 13.2 million, marking a 53.5% increase from the previous quarter. Transaction volume also rose by 38% to 200.4 million.
The developer ecosystem has grown alongside network usage. As of mid-June 2026, Ethereum has recorded more than 1 million cumulative developers, with approximately 232,000 active over the past year alone.
Trader sentiment turns cautious
While network fundamentals remain strong, short-term sentiment among traders appears more cautious. On-chain data shows a sharp decline in large transactions, with whale activity dropping by about 86.6% between early and mid-June.
This shift aligns with weaker institutional flows. Spot Ethereum ETFs recorded net outflows of $216 million خلال a single week in late May, suggesting that large market participants are adopting a more cautious stance as the foundation undergoes significant internal changes.
To understand Ethereum’s evolution after these leadership shifts, explore our guide on what Ethereum is and how it works.
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