The Ethereum Foundation (EF) has announced a significant leadership change. Hsiao-Wei Wang and Tomasz Stańczak will become the new co-executive directors. This change follows Aya Miyaguchi's decision to step down and take on the role of EF’s president.

The Ethereum community has been discussing the foundation's role for several months. Many members have criticized its leadership due to Ethereum's recent struggles. The price of Ether (ETH) has not performed well compared to other cryptocurrencies. Additionally, Ethereum has seen a decline in developer interest, falling behind Solana for the first time.

Wang has been with EF since 2017. She has contributed to important projects like “the Merge” and sharding research. Stańczak is the founder of Nethermind, which operates one of the largest Ethereum execution clients.

In another development, former EF researcher Danny Ryan is joining a new company called Etherealize. This firm aims to connect Ethereum with Wall Street. Founded by Vivek Raman, Etherealize focuses on educating institutions about Ethereum and promoting ETH as a valuable financial asset. Ryan expressed his vision on X, stating he wants to create a strong Ethereum institution that emphasizes real-world applications of Ethereum.

These leadership changes come at a critical time for Ethereum. The foundation has faced criticism for not adequately supporting the Ethereum ecosystem. Investors are concerned about ETH prices and competition from faster blockchains.