Ethereum Foundation Loses Second Co-Director in Exodus; ETH at $1,697

Hsiao-Wei Wang resigned immediately as co-executive director and board member on June 18 after returning from sabbatical, becoming the second co-ED to depart in 2026 following Tomasz Stańczak’s February exit. The move caps a wave of at least eight senior departures and roughly 19 total layoffs or exits this year at the Ethereum Foundation. Bastian Aue has assumed expanded interim duties while core protocol work on the Glamsterdam upgrade continues. ETH fell 4.2% to $1,696.80 amid broader crypto weakness, though analysts attribute the decline primarily to sentiment rather than any protocol impact. The Foundation emphasized ongoing focus on censorship resistance, privacy, and security.