Ethereum Foundation Halts $3 Million Ecosystem Support Program

The Ethereum Foundation has paused its $3 million Ecosystem Support Program (ESP), signaling a strategic shift in funding practices. The program, designed to support projects within the Ethereum ecosystem, will remain dormant while the foundation develops a new model for grant allocation by late 2025. This pause may impact DeFi projects and Layer-2 protocols that rely on ESP funding, but financial markets show no immediate signs of volatility.