Pascal Caversaccio, the security researcher known across Ethereum as pcaversaccio, has joined the Ethereum Foundation’s Board of Directors for a one-year voluntary term, the Foundation announced on July 29, 2026.
Caversaccio co-founded the security response group SEAL 911 and wrote two books on Ethereum privacy, most recently 2025’s Ethereum Privacy: The Road to Self-Sovereignty. The appointment lands seven weeks after the Foundation cut 54 jobs, reduced its budget by 40%, and wound down its in-house Privacy and Scaling Explorations lab.
Why the Foundation Turned to a Privacy Researcher
Caversaccio has spent years working on Ethereum security audits and smart contract tooling. He is also a member of the Foundation’s Silviculture Society, an internal group focused on protocol research, and he published The Ethereum Cypherpunk Manifesto in 2024, arguing for stronger on-chain privacy protections.
His board term is unpaid and runs for one year, according to the Ethereum Foundation’s own announcement. The seat opens at a difficult moment for EF’s finances. CoinDesk reported that the Foundation cut its budget by roughly 40% for 2026 and confirmed a 20% headcount reduction, affecting about 54 people, the same week it wound down the Privacy and Scaling Explorations lab.
“I respect my EF colleagues far too much to pretend that there was not much that is lost,” Vitalik Buterin wrote, acknowledging the difficulty of the decision. The cuts followed Hsiao-Wei Wang’s resignation as co-executive director in June and Tomasz Stańczak’s exit from the same role in February, bringing the total number of senior departures since January to nine
What the Restructuring Means for EF’s Governance
The Block reported that the Foundation has been shifting authority away from itself and toward independent, community-run organizations, a pattern tied directly to this year’s cuts. Caversaccio’s appointment fits that pattern: a security-focused outsider joining the board while day-to-day technical work shifts to external groups.
Readers who want to follow how that shift plays out can find continuing coverage in our latest crypto news, where we’ve tracked EF’s budget cuts and leadership changes as they’ve developed.
The Term Caversaccio Just Signed Up For
Caversaccio’s seat is a one-year commitment, meaning the board will need to decide by July 2027 whether to renew the term or bring in a different security voice. The Foundation has not yet named permanent replacements for Stańczak or Wang, leaving both co-executive director seats open heading into that decision.
What This Means for You
If you use Ethereum or hold ETH, this appointment does not change how the network functions today. It signals that EF wants a dedicated security and privacy voice at the board level while the organization runs with a smaller staff and budget than it had six months ago. No action is required on your part, but it’s worth watching whether the Foundation names permanent executive directors before Caversaccio’s one-year term is up.
This article is for informational purposes only and does not constitute financial advice. Do your own research before making any investment decisions.
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