The Ethereum Foundation (EF) announced a restructuring to improve the DeFi ecosystem and released 50 thousand Ethereum (ETH), valued at over 163 million USD, as part of its DeFi program, initially supporting the Aave and Safe platforms. The community has expressed appreciation for this move, and Aave founder Stani Kulechov also voiced support. Previously, the EF faced criticism for the ongoing sale of ETH, although its leadership clarified that these sales are crucial for the operation of ecosystem projects. The latest initiative by the EF may drive greater participation and support in the DeFi space. Founder Vitalik Buterin stated that these changes aim to enhance the use of Ethereum privacy and DeFi technologies, ecosystem participation, and the chain's visibility, which could positively impact the long-term value of ETH.

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After several months of community backlash, the Ethereum Foundation (EF) has revealed key restructuring to improve the DeFi ecosystem. The organization said they released 50K Ethereum[ETH] (worth over $163M at current prices) as part of the DeFi program, starting with Aave [AAVE] and Safe platforms. Part of the statement read, New beginnings for ETH?Community members praised the move and the changes being made by the organization. Reacting to the update, Stani Kulechov, founder of Aave, said, For context, EF has been grabbing headlines for the wrong reasons — consistent dumping of ETH.Amid the backlash, Ethereum’s leadership clarified the sales, reportedly capped at $100M annually, are critical for running various projects in the ecosystem.But other ecosystem builders claimed the organization hadn’t supported them. In fact, a recent statement by one of the platforms, Abstract Chain, read,Simply put, the EF recent move could drive engagement and support for the DeFi sector. The program was part of its overhaul, as recently illustrated by the founder Vitalik Buterin. Buterin stated,Buterin added that EF’s new changes aimed to enhance the usage of Ethereum privacy and DeFi tech, ecosystem engagements, and the perception of the chain. This could be a net positive for ETH in the long run. That said, the altcoin was valued at $3.2K at press time. 

The Ethereum Foundation has released 50 thousand ETH to support DeFi applications and promote ecosystem restructuring.