Aya Miyaguchi Becomes President of Ethereum Foundation Following Leadership Changes
The Ethereum Foundation (EF) announced a leadership change with Aya Miyaguchi stepping down as Executive Director to become President. She previously oversaw key developments, including network hard forks and Devcon.
Vitalik Buterin stated that Miyaguchi will continue to support the EF in her new position and mentioned upcoming announcements regarding the EF's leadership structure.
Miyaguchi emphasized the EF's commitment to fostering a resilient Ethereum network and promoting sustainable growth without dominating web3 projects. Key principles include:
- Long-term sustainability over short-term gain
- Community leadership instead of dominance
- Adaptive growth rather than rigid structures
The EF has faced controversies affecting Ethereum's mainstream adoption, including accusations of conflicts of interest among researchers and transparency issues regarding treasury management. As a result, Buterin temporarily assumed leadership earlier this year.
Market Impact
This leadership transition may enhance institutional investor confidence in Ethereum and its smart contracts. The Ethereum network currently holds over $53 billion in total value locked (TVL) and a stablecoin market cap exceeding $122 billion. Despite this, Ethereum has experienced bearish sentiment compared to competitors like Solana, which has seen significant price increases over the past year.