Ethereum Foundation temporarily halts grant funding to focus on strategic projects.
The Ethereum Foundation (EF) has announced a temporary pause in open grant applications for its Ecosystem Support Program (ESP). This decision is not related to any specific project or initiative, but rather a move to improve the application process and usher the ESP into a new chapter.
The ESP, which aims to foster collaboration among developers, researchers, and community members to strengthen the Ethereum network, will continue supporting active grantees during the pause. The program will remain available for non-financial support as well.
In a statement, the EF explained that the changes to the ESP are part of its evolving strategy to focus on sustainability and community engagement. The goal remains to support the Ethereum ecosystem and the public goods that sustain it.
Examples of projects funded by the ESP include Commit-Boost, BundleBear, Web3Bridge, ZK Playbook, and the Ethereum Cypherpunk Congress. Over the past year, the ESP awarded about $3M in funding to up to 105 projects and initiatives.
The new approach to the ESP will be outlined in a future post, and the program is expected to reopen for applications at the start of October 2025. The changes are anticipated to provide potential opportunities to better support builders, researchers, and contributors in the Ethereum ecosystem.
Elsewhere in the crypto world, there have been several notable developments. BYD stock lost $45 billion in value amid rising doubts over China's EV dominance. Meanwhile, Santander's Openbank has rolled out Bitcoin, Ether, and more for European users. XRP and Dogecoin ETFs are set to launch this week.
In other news, Nvidia stock crashed by 3% as China accused it of breaching anti-monopoly law. Monero faces a double-spending threat after a block reorganization, and one user lost $1M USDC to a MEV bot after a mistaken transaction.
Finally, Next Technology filed for a $500M common stock offering to buy more Bitcoin, the UAE M2 crypto exchange dropped its business model, and Pi Network began the final Testnet1 upgrade ahead of its mainnet transition. In a separate development, NextAI agent platform Eliza Labs founder sued Elon Musk's X over IP violation. Pantera backed Solana with a $1.1B bet, eyeing a $750K Bitcoin price.
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