On Monday, the Ethereum Foundation (EF) released a financial report showing that the foundation currently holds $ 1.6 billion in its coffers. $ 1.3 billion of treasury assets are held in cryptocurrencies, while the rest of the treasury consists of non-crypto investments and assets.
The Ethereum Foundation holds $ 1.294 billion in Ether
The Ethereum Foundation is a non-profit organization dedicated to fostering growth within the Ethereum ecosystem. Recently published EF report for April 2022 explains that there are different ways in which EF supports the Ethereum environment.
EF creates teams focused on improving Ethereum and the network ecosystem, the nonprofit provides grant-funded projects to fund other teams outside key EF teams, manages the allocation of delegated domains, and also uses third-party funding techniques.
After explaining what the Ethereum Foundation is and what it does, the April 2022 report talks about the EF’s treasury and finances. According to the EF, it currently holds $ 1.6 billion in its treasury, and $ 1.3 billion is made up of digital currencies like ethereum (ETH).
In fact, according to an EF report, the foundation holds 80.5% of its cryptocurrencies in the ether, representing 0.297% of the total ether supply. EF insists that even during the years-long decline of the crypto market, the non-profit organization singles out a “conservative treasury” that is “immune to changes in the price of ethereum.”
The reason why EF holds so much ether is that it represents the nonprofit’s faith in the future potential of Ethereum and that the properties “represent that long-term perspective.”
EF will spend $ 48 million in 2021
The EF report also reveals that last year the non-profit organization spent a total of about $ 48 million, and $ 20 million of the total spending went to “external spending” such as grants.
The remaining balance funds teams and projects with the Ethereum ecosystem. The overall spending balance is placed in unique categories that include first tier (L1) research and development (R&D), first tier (L2) R&D, applied GC research, community development and spending on internal operations.
The Ethereum Foundation is one of many organizations that keep ether in the treasury, as recently published on Bitcoin.com News logged in on numerous ether vaults on April 10th. The report showed 12 different companies holding ethereum worth close to $ 700 million in their balance sheets.
What do you think about the Ethereum Foundation’s financial report, which reveals its current Ethereum assets? Tell us what you think about this topic in the comments section below.
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