Latest news with #EF
Yahoo
a day ago
- Business
- Yahoo
Ethereum Foundation Lays Off Some Staff Amid R&D Restructuring
The Ethereum Foundation has laid off some members of its research and development team as part of a broader restructuring effort aimed at refocusing on critical protocol design challenges, the organization said in a blog post Monday. The shake-up comes as the Switzerland-based nonprofit grapples with ongoing criticism over its management and strategic direction. Some in the Ethereum community have warned for over a year that failure to address key technical hurdles could threaten Ethereum's status as an industry leader, and the organization has already undergone leadership changes in part to address these concerns. The foundation is rebranding its Protocol Research and Development division under the simplified name 'Protocol,' and is repositioning the group around three main priorities: scaling Ethereum's base layer, expanding blobspace (a key part of its data availability strategy), and improving user experience. 'The changes we're announcing today are a departure from our previous ways of working, but we feel these set us on a more responsive and effective path,' the foundation said in its post. The EF did not disclose how many staff were affected by the layoffs. '[S]ome members of PR&D won't be continuing with the Ethereum Foundation,' the blog stated. 'We hope these individuals continue on in the Ethereum ecosystem and encourage others building out their teams to seek them out.' A spokesperson for the foundation did not respond to a request for comment. The restructured Protocol team will serve as a hub for Ethereum's core development efforts, aiming to improve public visibility into upgrade timelines, technical documentation, and research. 'We're hopeful that this new structure will empower our internal teams to focus more clearly and drive key initiatives forward,' said Hsiao-Wei Weng, the co-executive director at the EF in a post on X. Read more: Ethereum Foundation Picks New Co-Executive Directors, Following Leadership Reshuffle
Yahoo
a day ago
- Business
- Yahoo
Ethereum Foundation Lays Off Some Staff Amid R&D Restructuring
The Ethereum Foundation has laid off some members of its research and development team as part of a broader restructuring effort aimed at refocusing on critical protocol design challenges, the organization said in a blog post Monday. The shake-up comes as the Switzerland-based nonprofit grapples with ongoing criticism over its management and strategic direction. Some in the Ethereum community have warned for over a year that failure to address key technical hurdles could threaten Ethereum's status as an industry leader, and the organization has already undergone leadership changes in part to address these concerns. The foundation is rebranding its Protocol Research and Development division under the simplified name 'Protocol,' and is repositioning the group around three main priorities: scaling Ethereum's base layer, expanding blobspace (a key part of its data availability strategy), and improving user experience. 'The changes we're announcing today are a departure from our previous ways of working, but we feel these set us on a more responsive and effective path,' the foundation said in its post. The EF did not disclose how many staff were affected by the layoffs. '[S]ome members of PR&D won't be continuing with the Ethereum Foundation,' the blog stated. 'We hope these individuals continue on in the Ethereum ecosystem and encourage others building out their teams to seek them out.' A spokesperson for the foundation did not respond to a request for comment. The restructured Protocol team will serve as a hub for Ethereum's core development efforts, aiming to improve public visibility into upgrade timelines, technical documentation, and research. 'We're hopeful that this new structure will empower our internal teams to focus more clearly and drive key initiatives forward,' said Hsiao-Wei Weng, the co-executive director at the EF in a post on X. Read more: Ethereum Foundation Picks New Co-Executive Directors, Following Leadership ReshuffleError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
- Yahoo
AAVE Rebounds From 15% Drop as DeFi Yield Markets Gain Momentum
AAVE has demonstrated remarkable resilience in the face of global market turbulence, rebounding from a 15% price drop over four days as buyers stepped in to capitalize on DeFi's growing momentum. The protocol's price climbed from $240 to above $250, buoyed by expanding tokenized yield markets that are drawing increased institutional and retail interest. The price action comes as global trade tensions and new tariff uncertainties — including reports of China violating its trade agreement with the U.S. — injected volatility across risk assets. Despite these headwinds, the DeFi sector is showing renewed strength, with total value locked (TVL) surging to $178.52 billion. AAVE remains a key leader in the space, commanding a TVL of $25.41 billion. News Background A key driver of AAVE's recent rebound has been its integration with Pendle's tokenized yield markets, which saw new markets reach their supply caps within hours of launch, underscoring the strong demand for yield-generating products in the DeFi ecosystem. The Ethereum Foundation (EF) borrowed $2 million in GHO, Aave's decentralized stablecoin pegged to the U.S. Dollar, earlier this week. This move, facilitated by supplying ETH as collateral, highlighted EF's strategy of leveraging its crypto holdings to fund operations while supporting Aave's protocol. Aave's GHO stablecoin is fully overcollateralized within the Aave ecosystem, with EF's loan backed by 1,403,519.94 Gwei of ETH (valued at $0.01 in the transaction). Interest payments on this loan support Aave's DAO treasury, reinforcing a community-driven financial model that incentivizes participation and governance. Aave's lending dominance is underscored by its 45% market share from January 2023 to May 2025, according to IntoTheBlock data. This figure highlights Aave's steady recovery from the 2023 DeFi dip and cements its status as the largest decentralized lending protocol by volume and activity. Technical Analysis Recap AAVE established a high-volume support zone around $242.70 during the 16:00-17:00 and 01:00-02:00 hours, attracting strong buying with volumes exceeding 90,000 units. A bullish ascending triangle pattern formed, with higher lows indicating accumulation despite recent resistance. After peaking at $255.96 at 20:00, AAVE set resistance at $253.75 before stabilizing at $248-$250. A notable volume spike between 07:51-07:52 coincided with a sharp rise from $248.98 to $249.82, creating a new resistance level. A cup-and-handle pattern formed, with the handle developing between 07:56-08:00, suggesting accumulation after the recent pullback. Short-term consolidation near $249, coupled with increasing volume on upward moves, hints at potential bullish momentum building for a test of $250 resistance. As DeFi yield markets continue to expand, AAVE's ability to integrate new products and sustain high-volume support levels positions it as a key player in the sector's growth — despite the broader market's macroeconomic challenges. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Tribune
4 days ago
- Sport
- Daily Tribune
Prodhomme wins Giro stage as Del Toro holds lead
AFP | Champoluc-Champlan Frenchman Nicolas Prodhomme won a sizzling stage 19 of the Giro d'Italia yesterday run over five Alpine peaks where an expected title showdown failed to fully ignite. Overall leader Isaac del Toro of Mexico remains 43 seconds ahead of Richard Carapaz of Ecuador while Briton Simon Yates is third at 1min 21s after losing 22sec on the day. EF rider Carapaz attacked late on in the race and Del Toro again proved he could keep up. Former Giro champion Carapaz was satisfied with his day's work. 'I think we were all very tired, and in the end I just had to give it a try. But I think it was a good stage. I think we can make it with Del Toro so I've got to be happy with my performance.' Visma rider Simon Yates was unable to follow the pair and said he would be reviewing the situation ahead of Satur-day's blockbuster, appearing annoyed at the line. 'We'll see how the legs are. The legs are good today so hoping for the same tomorrow and that I can try something,' said the pure climber who may yet take the title. His twin brother Adam Yates took it easy yesterday and will help sherpa UAE teammate Del Toro on the penultimate day. Prodhomme's face was twisted with the effort as he broke away from a large escape group. 'I've waited a long time for a win. I won my first race a week ago and now I win here in the Giro d'Italia.'
France 24
25-05-2025
- Sport
- France 24
Verona bags sixth win for Lidl as Giro hits mountains
Verona's solo triumph was the 32-year-old's first-ever win on a grand tour and Lidl-Trek's sixth stage win on the 2025 Giro -- Mads Pedersen, with four, and Dan Hoole taking the other five. The victory came, however, on a day that started badly for Lidl-Trek with the retirement of team leader Giulio Ciccone who pulled out injured after a difficult day in the saddle on Saturday. Verona peeled away on the final climb and held a slender advantage over the peloton all the way to the line. The 21-year-old Del Toro did enough to hold on to the lead, the Mexican remaining 1min 20sec ahead of Simon Yates with Spaniard Juan Ayuso third, six seconds further adrift -- small change given the mountains ahead. "The whole country is behind me. It's incredible, like a dream," said Del Toro, who took the lead a week ago, and is now being followed by an increasing number of Mexicans arriving in Italy to support him. Egan Bernal's Ineos team were a chief protagonist during an eventful stage, with attacks on both big climbs. "We have nothing to lose on this Giro, and everything to ride for," Bernal said. Second-placed Yates of Visma kept his powder dry the first time Bernal accelerated on the Monte Grappa 21km climb but Del Toro skipped after him with ease. Yates followed them on their second doomed attack on the final climb, more aimed at killing off the fading hopes of pre-race favourite Primoz Roglic. The Slovenian, who fell heavily on Saturday, suffered further serious damage to his aspirations, dropping out of the top five after losing another 1min 30sec. Monday is a rest day ahead of a challenging final week culminating in Rome on June 1. The time gaps across the top 10 riders should be shaken up from stage 16 with five monster climbs and a summit finish as the 21-day marathon enters the Alps. The pure climbers such as Bernal, Yates and Richard Carapaz could cause more havoc there. "The third week is where the action is," said former Giro and Olympic champion Carapaz on Sunday. This is followed by another mountain run that is an invitation to the downhill daredevils with two huge descents on stage 17. The decider might be stage 19 with another five-mountain slog, while stage 20 has a giant 18.5km climb at 9.5 percent gradient to over 2000m altitude. Ayuso and Del Toro have time, youth and a strong posse in hand, but former Grand Tour winners are lurking. Yates, who won the Vuelta a Espana in 2018, is six seconds ahead of Ayuso, while 2019 Giro winner Carapaz of EF is a further 31sec off. Another Giro winner, and 2019 Tour de France champion, Bernal is another 1min 30 back and poised to strike in a gruelling final week.
