A cryptocurrency exchange office in Prague.
Photographer: Milan Jaros/BloombergVitalik Buterin, the programmer who helped create underlying technology for Ether, the world’s No. 2 cryptocurrency, said the nonprofit behind it is being forced to make some difficult decisions.
The Ethereum Foundation is cutting its budget by 40%, which is leading to staff departures and is linked to broader changes in its overall focus, according to a sentimental post by Buterin on social media on Tuesday. It’s the latest sign of the months-long crypto rout disrupting the sector and causing job losses at even the most seemingly-stable entities.























