Ethereum Foundation Shuffles Leadership

Aya Miyaguchi, the Executive Director of the Ethereum Foundation (EF), is reducing her role within the organization amidst the EF’s ongoing leadership restructuring.

Miyaguchi served as the Executive Director of the Ethereum Foundation for seven years and transitions to a smaller role but will remain active and pivotal in the Foundation’s operations.

The Ethereum Foundation has been under increased scrutiny over the last year, largely due to ETH’s underperformance in the market, which has led to the community's outcry for a change in leadership and culture.

The ETH/BTC ratio sits at 0.028, its lowest level since December 2020.

Sentiment has soured to the extent that many Ethereum maximalists have given up hope on potential change within the ecosystem. On Jan. 20, an outspoken ETH investor, Eric Connor, shared on X, “I am no longer a dot eth. Perhaps some day those in leadership roles will realign with the community, but for now, I am out.”

The EF’s attempt to reinvent itself has been openly talked about by both Miyaguchi and Ethereum’s co-founder, Vitalik Buterin. While the decision is being enacted today, Aya claims she decided to transfer to the President role over a year ago.

In the EF’s blog post, Aya shared, “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 went on to cite the importance of disagreement in permissionless systems, and reiterated the idea that the EF’s role is not to control, but to uphold Ethereum’s values.

“She has accomplished much in her seven years as executive director of the EF. As I see it, the role of an ED is to create an environment where others can shine and do their best work, and so every success of the EF is in part a result of Aya's stewardship,” said Buterin.

There is no word yet on Miyaguchi’s replacement as executive director.

“Meanwhile, we have been working on the new EF leadership structure, and will share more news soon,” added Buterin.

The leadership shuffle has been well received by the community, with many supporters thanking Miyaguchi for her service. The ETH price did not have a chance to react to the event, given the ongoing volatility across crypto markets.

ETH is down 6.5% in the past 24 hours, trading at $2,500.