The Ethereum Foundation laid off 54 people today, accounting for 20% of its staff. A few days ago, when its co-director resigned, it revealed that Ethereum’s funding was in a crisis—and nobody expected layoffs and cost-cutting to begin this quickly. This is the year with the highest number of layoffs since Ethereum was first created. It’s a crisis for Ethereum, but it’s also an opportunity to improve management and redesign its organizational structure.