Ethereum Built Stablecoins. Its Price Drop Reveals Their Biggest Shift Yet

Ethereum, the second-largest blockchain by market capitalization, fell roughly 25% in June amid a corporate restructuring. The correction stands out less for its size than for the institutional stablecoin economy now built on top of the network. Ethereum announced a organizational restructuring, including a 20% workforce reduction and plans to cut spending by 40% over the coming years.