Ethereum (ETH) Foundation Board Expands to Four With Security Appointment

Ethereum News

The Ethereum (ETH) Foundation has appointed security researcher Pascal Caversaccio, widely known as pcaversaccio, to its board, restoring the panel to four members. The foundation’s official blog said on July 29 that Caversaccio joins president Aya Miyaguchi, co-founder Vitalik Buterin and Swiss legal adviser Patrick Storchenegger. His background is rooted in the core altcoin network’s technical community: he co-leads SEAL 911, an incident-response group that assists protocols during active exploits, and he has advised the foundation’s Silviculture Society on censorship resistance, open-source software, privacy and security. The board’s mandate is to set long-term vision, supervise high-level strategy and ensure that management decisions align with the organization’s values. It also carries a compliance function, because the entity must preserve its status as a Swiss foundation while protecting the network’s neutral public-infrastructure identity. By placing a practicing security engineer in that oversight role, the foundation is signaling that protocol safety and civil-liberties principles are not merely advisory themes, but governance priorities at the top of the institution.

Caversaccio’s initial term runs for one year and is unpaid, matching the volunteer structure used for other board seats. His appointment is the first addition since the board contracted to three members in June, when co-executive director Hsiao-Wei Wang stepped down after nearly a decade. The foundation has also seen other senior exits this year, including Tomasz Stańczak’s departure in February, as Buterin has described a smaller organization focused on security, privacy and censorship resistance. Caversaccio’s practical credentials extend beyond emergency response: he authored the CreateX deployment framework and the snekmate Vyper security library, work that touches areas such as contract deployment safety and user protections against risks like Blind Signing. Moving him from an advisory circle into a formal board seat gives the foundation’s security council a member who has directly handled live DeFi incidents, rather than only policy or legal expertise. That operational experience could shape how the board evaluates incident response, audit standards and the protection of public infrastructure.

The board change arrives while the foundation is shrinking its operational footprint. In June, it cut about 54 roles, roughly 20% of staff, and reorganized around five clusters: protocol, access, user, community and institutional work, alongside separate operations and executive-support functions. That restructuring followed the exit of several senior leaders and a broader effort to reposition the foundation as a long-term steward rather than the center of ecosystem development. At the same time, independent groups have emerged to absorb functions once associated with the foundation. Ethlabs was formed by five former senior researchers as a nonprofit research and development organization; Ethereum Institutional is aimed at banks and asset managers; and EthSystems is building applied privacy and cryptographic tooling. These ventures have drawn support from major ETH treasury firms BitMine and SharpLink, as well as Ethereum co-founder Joseph Lubin, showing that the network’s institutional architecture is becoming more distributed during a prolonged bear market.

The governance reset also unfolds against weak price performance for ETH. The token has fallen roughly 50% over the past year and remains far below the all-time high of $4,946 reached in August 2025, trading conditions that have intensified scrutiny of foundation spending and priorities. Earlier this year, the organization outlined a mandate assigning the board responsibility for long-term vision, value alignment and Swiss legal compliance, while also functioning as a security council for core principles. Miyaguchi welcomed Caversaccio by linking his profile to the CROPS framework: censorship resistance, open source, privacy and security. The appointment follows a 40% budget reduction and signs that Buterin has stepped back from day-to-day decisions, creating room for external voices. For the broader altcoin market, the message is that Ethereum’s stewardship is prioritizing defensive credibility, privacy and resilience even as price momentum remains fragile. That stance may influence how the board evaluates strategy, spending and mission alignment through the remainder of 2026.

COINOTAG’s proprietary 42-indicator composite S/R scoring engine rates Ethereum’s nearest resistance at $1,940.27 at 82/100, driven by Fibo 0.500 and EMA 100, while support at $1,902.93 scores 50/100 from Pivot Point and SMA 20. With spot ETH near $1,919.68, RSI at 57.72 and a bearish MACD signal point to sideways churn. Derivatives aggregate data show 0.0057% perp funding, $7.70 billion open interest and a 1.60 long/short account ratio, leaving 61.5% of accounts long despite a Fear and Greed reading of 28. A daily close above $1,940 could expose the $2,022.44 resistance, scored 63/100 by LVN and Fibo 0.618; a loss of $1,903 would shift focus to $1,826.83 and invalidate the near-term bullish repair.