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Ethereum Foundation (EF) executive director Aya Miyaguchi announced she will be stepping down from her current role and transitioning to a newly created position as president of the organization.
In a blog post published on Tuesday, Miyaguchi emphasized that her new role would focus on expanding EF's institutional relationships and advancing the organization’s vision.
Today, I’m excited to turn the page and share that I will be closing this chapter as Executive Director of the @ethereumfndn soon and stepping into a new role as its President.
— Aya Miyaguchi (@AyaMiyagotchi) February 25, 2025
Let’s continue building in the garden.
Read my full statement :https://t.co/sn3Rpsatqy https://t.co/4Gz3WdLPLD
"This new opportunity will allow me to continue supporting EF’s institutional relationships and to expand the reach of our vision and culture more broadly," she wrote. While the transition was planned a year ago, she framed it as an opportunity to reinforce Ethereum’s long-term mission amid ongoing challenges.
A high school teacher for 10 years, Miyaguchi spent four years at crypto exchange Kraken, first as as VP of operations in Japan, and later as managing director, Japan. She joined EF in 2018 as executive director, playing a critical role in Ethereum’s evolution, including the network’s transition to proof-of-stake. Under her leadership, the foundation has prioritized decentralization, ecosystem development, and what she calls a "subtraction" philosophy—ensuring that no single entity, including EF itself, dominates Ethereum’s trajectory.
However, her tenure has not been without controversy. Critics within the Ethereum community have accused Miyaguchi of ineffective leadership, arguing that Ethereum has lost its edge in attracting new developers compared to rival blockchains like Solana. Some have even linked Ethereum’s lagging price performance to the foundation’s strategic direction under her watch. The restructuring follows months of growing discontent, with some calling for deeper governance reforms within the foundation.
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Vitalik Buterin, Ethereum’s co-founder, publicly defended Miyaguchi, stating on X that her leadership has been instrumental in maintaining Ethereum’s "steadfast commitment to its mission and values." Buterin also reaffirmed the foundation’s commitment to decentralization, pushing back against calls for a more corporate-style governance model.
Despite the leadership transition, it remains unclear who will take over Miyaguchi’s former role as executive director. EF has yet to announce a successor, adding to speculation about how its leadership structure will evolve.
The restructuring at EF comes at a critical moment for Ethereum. With concerns mounting over competition from alternative layer-1 blockchains, high transaction fees, and shifting developer sentiment, the foundation’s next moves will be closely watched. Miyaguchi’s transition to president signals continuity, but it also raises questions about whether the changes will be enough to address the ecosystem’s broader challenges.
