Ethereum Foundation Executive Director Aya Miyaguchi took to X to announce her transition from the role to the President of the non-profit organization.
She noted that this promotion allows her to continue supporting the foundation’s institutional relationships.
Aya Miyaguchi’s Track Record in the Ethereum Foundation
Ethereum co-founder Vitalik Buterin confirmed that Miyaguchi has always had the vision of becoming the President of the Ethereum Foundation .
Furthermore, he acknowledged all she accomplished as the ED of the Foundation, including creating an environment where others can thrive.
This position gained backing from Ethereum enthusiast Joseph Schweitzer’s thread about Miyaguchi.
Schweitzer started his X thread with a question; “So what did Aya Miyagotchi do as Executive Director of EF?”.
Source: X
In response, he stated that some features like Grant, the Ecosystem Support Program, and the Ethereum.org community for Web did not exist before Miyaguchi joined the foundation in 2018.
He went further to list events and structures that only became effective once she became ED. Schweitzer also wrote.
“Aya aimed to (1) create processes for the EF to function and succeed, and (2) to make decisions that maintained the values and ethos that are core to Ethereum’s soul—inspiring ecosystem growth, community ownership, and decentralization—sometimes in the face of a storm.”
Long-Standing Leadership Strain and Vitalik’s Involvement
This transition comes at a time when Miyaguchi is facing public scrutiny from several Ethereum community members.
According to a WIRED coverage, she allegedly rejected a “culture of competing and winning” and failed to move fast enough on Ethereum’s scaling solutions.
This sentiment fueled hostility toward her from some Ethereum community and EF insiders.
Miyaguchi believes,
“These past few weeks have illuminated something profound about Ethereum — a truth that becomes clearest in moments of tension, when debates arise over the network’s performance or ETH’s market value.”
She stated that the network’s greatest strength lies in the ongoing tension.
Also, the broader Ethereum Foundation is being criticized for some reasons.
Precisely, the alleged lack of transparency and the convoluted nature of its structure have made the Foundation a point of discussion these past few weeks.
Concerning the criticism of the protocol, the Ethereum co-founder claimed that efforts are being made toward the EF leadership structure.
Additionally, the Ethereum executive has taken a few intentional steps towards making the organization more engaging. This includes the 50,000 ETH recently deployed by the Foundation on Aave, Compound, and Spark.
Notably, this $80 Million worth of ETH followed earlier conversations where the Ethereum Foundation was accused of only interacting onchain when selling ETH to boost its operational capital.
Will This New Shift Boost Ethereum Outlook?
The recent Ethereum Foundation leadership structure shift may catalyze ETH price recovery. This is because the community might see the defined efforts to improve operations.
Notably, this could enhance developer operations, and DApp building with impacts on ETH price.
The network is still trying to recover from the Bybit hack that led to the theft of over $1.4 Billion in ETH.
The unfortunate situation caused Bybit to register a sharp fall in its ETH reserves from 443,691 ETH before the hack to 39,692 ETH within an hour.
The crypto exchange has registered a complete recovery in its reserve , but the ETH price is still bleeding.
At the time of this writing, the ETH price was changing hands at $2,322.14, up by 1.03% in the last 24 hours.
