CHANGING ETHEREUM FOUNDATION

Summary from the TLDR Crypto newsletter

The Ethereum Foundation shared a formal Treasury Policy that sets clear ETH-sale thresholds to maintain 2.5 years of fiat runway, an annual spending cap tapering from 15% to 5%, DeFi and staking revenue mandates, enhanced quarterly and annual reporting, and “DeFiPunk” investment standards grounded in cypherpunk ideals. This structured framework shifts the Foundation from passive asset holder to active ecosystem steward, boosting predictability and transparency in its financial operations. However, the policy's selective support criteria risk centralizing influence, and its profit-oriented activities could invite SEC scrutiny under the Howey Test. The coming months will reveal whether the Foundation can uphold Ethereum's decentralization ethos while managing its new, more proactive treasury.