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EF's 8th Exit, $30M Funding Gap & $340M Bridge Losses YTD | Jun 19
Audio is available on Spreaker — see link below.
Ethereum Foundation loses its second co-executive director in five months as a $30M funding gap threatens core dev budgets within the year. Plus a $4.67M Axelar bridge exploit and ETH testing critical trendline support at $1,350–$1,500.
Audio is available on Spreaker — see link below.
Hsiao-Wei Wang resigned as co-executive director of the Ethereum Foundation on June eighteenth, and the signal here isn't just one departure. It's the eighth senior exit in five months.
The key implication here is money. The foundation is running a thirty million dollar annual funding gap.
Separately, cross-chain infrastructure took another hit. A four point six seven million dollar exploit on the Axelar-Secret Network bridge was traced to a missing channel-verification check that had been present in the code since twenty twenty-three.
This breach isn't isolated. Year-to-date, bridges have lost three hundred and forty million dollars to variations of the same fundamental flaw.
On price, Ethereum is trading below a falling trendline with a confirmed lower-high pattern near one thousand seven hundred and fifty dollars. The one thousand three hundred and fifty to one thousand five hundred dollar range is the critical support zone.
One more thread worth tracking. The CME has sued over the CFTC's classification of Kalshi's bitcoin perpetual futures, arguing they're swaps, not futures.
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