EF's Second Co-Director Logs Off in Four Months While a $30M Funding Hole Watches 🕳️

Hsiao-Wei Wang resigned as co-executive director and board member of the Ethereum Foundation on June 18, effective immediately, the second co-ED departure in roughly four months. Wang thanked Bastian Aue for guiding the transition during her prior sabbatical. Aue, who served as interim co-ED after Tomasz Stańczak stepped down in February, is now effectively the sole executive director of the Foundation, and no successor structure has been announced. Wang confirmed the move in a post on X, writing, "After my sabbatical, I have decided to step down as co-executive director and board member of the Ethereum Foundation (@ethereumfndn), effective today. That time gave me space to reflect on my priorities and the kind of life I want to build next."

The exit landed the same day former EF contributor Trent Van Epps published a detailed warning that Ethereum's core development ecosystem faces a slow-burning funding crisis within three to nine months, with an estimated $30 million annual gap and no replacement mechanism in place. Van Epps, who spent five years at the Ethereum Foundation from May 2021 to April 2026 working on core development coordination and Protocol Guild funding, stated in his warning that the $30 million annual figure has no replacement mechanism currently in place, making his timeline worth tracking closely.

$ETH was trading near $1,690 at the time of publication, down roughly 3.3% on the day, a move in line with broader market pressure rather than any Wang-specific repricing. Ethereum Foundation leadership has now lost two co-executive directors in roughly four months, with no public succession plan disclosed for either departure.

The combined picture leaves the Foundation navigating a leadership transition and a core developer funding shortfall at the same moment, with the structural question of how both gaps are addressed now sitting firmly in the open.