Ethereum Foundation cuts 40% of budget, then appoints security researcher to board
When a foundation overseeing the world’s second-largest blockchain cuts its budget by 40%, eliminates 54 jobs, shuts down a core research lab, and loses both co-executive directors in the same year, the question is no longer whether something is changing — it’s who gets handed the wheel. That answer came on July 29, 2026, when the Ethereum Foundation made a notable board appointment, naming security researcher Pascal Caversaccio, widely known in the ecosystem as “pcaversaccio” or “pc,” to its Board of Directors.
Key takeaways
- Pascal Caversaccio joined the Ethereum Foundation Board of Directors on July 29, 2026, for a voluntary, unpaid one-year term.
- He is co-founder of emergency security response group SEAL 911 and author of Ethereum privacy books, including a 2025 publication.
- His addition brings the Foundation’s board to four members: President Aya Miyaguchi, Vitalik Buterin, Patrick Storchenegger, and Caversaccio.
- The appointment follows a 40% budget cut, 54 job losses, the closure of the Privacy and Scaling Explorations lab, and the resignations of co-executive directors Hsiao-Wei Wang and Tomasz Stańczak in 2026.
- No changes to Ethereum network function or user action are required as a result of this appointment.
Pascal Caversaccio Joins the Ethereum Foundation Board
Caversaccio is not a newcomer to the Foundation’s orbit. He has served on the EF’s Silviculture Society, an advisory group focused on preserving the Foundation’s core principles — including censorship resistance, open-source development, privacy, and security. His track record in Ethereum security is deep and well-documented.
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