Ethereum co-founder Vitalik Buterin said he has withdrawn 16,384 ETH, worth about $43 million, to fund development efforts as the Ethereum Foundation enters a period of tighter spending.
Buterin said the funds will support open-source security, privacy, and infrastructure projects aligned with a broader vision of “full-stack openness and verifiability”.
“The Ethereum Foundation is entering a period of mild austerity while continuing to deliver an aggressive scaling roadmap,”
Buterin said in a post on X.
He said the initiative extends beyond Ethereum itself, with potential applications across finance, communications, governance, operating systems, secure hardware, and emerging areas such as biotech and public health.
Buterin added that the Foundation will continue focusing on blockchain development with an emphasis on decentralisation, self-sovereignty, privacy, and security rather than corporate adoption.
The move follows a broader crypto market downturn, with ether trading well below its October peak as prices have pulled back in recent weeks.
The Ethereum Foundation still holds about $558 million in crypto assets, according to Arkham, while Buterin is also exploring decentralised staking to generate additional long-term funding.
At the time of reporting, Ethereum price was $2,723.12.