Published: 19.04.2022
Article reading time:
2 minutes.
The Ethereum Foundation (EF) published a report in which it disclosed the amount of ether and other assets held on its balance sheet and how these funds are spent.
According to the April report, as of March 31, 2022, the fund’s “treasury” holds assets totaling $1.6 billion. Of these, $1.29 billion (80.5%) is ETH, $11 million (0.7%) is invested in other digital assets, and $302 million (18.8%) are not related to cryptocurrency investments.
EF announced that it is increasing its holdings in traditional assets in response to the appreciation of ETH. This will strengthen the stability of the fund’s core budget and allow it to continue financing non-core projects with high leverage in a declining market. At the same time, the fund believes in the potential of Ethereum, therefore it intends to store most of the funds in ETH for a long time.
The report reveals how EF has managed its spending throughout 2021. Last year, the organization spent about $48 million on community development, internal operations, zero-knowledge proof (ZK) research, and research and development on first and second level solutions. The latter include research related to core network upgrades and the Geth client, as well as network stress testing tools, external developer grants, and educational resources.
Recall that last year EF sent $1 million to support developers creating open source software. Moreover, the organization itself receives funding for the development of Ethereum 2.0. So, in August, several DeFi projects donated funds totaling $1.5 million to the fund.
Source: Bits
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
