Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether
On Monday, the Ethereum Foundation (EF) published a financial report that shows the foundation currently holds $1.6 billion in its treasury. $1.3 billion of the treasury’s assets are held in cryptocurrencies while the rest of the treasury is composed of non-crypto investments and assets. Ethereum Foundation Holds $1.294 Billion in Ether
The Ethereum Foundation is a non-profit organization that’s dedicated to fostering growth within the Ethereum ecosystem. The recently published EF April 2022 report explains that there are various ways the EF bolsters the Ethereum environment.
EF creates teams focused on improving Ethereum and the network’s ecosystem, the non-profit provides projects with grants to fund other teams outside of the core EF teams, it manages delegated domain allocation, and it also leverages third-party funding techniques. Source: Ethereum Foundation April 2022 report.
After explaining what the Ethereum Foundation is and what it does, the April 2022 report discusses the EF treasury and financials. According to the EF, it currently holds $1.6 billion in its treasury, and $1.3 billion is composed of digital currencies like ethereum (ETH).
In fact, according to the EF report, the foundation holds 80.5% of its crypto holdings in ether, which represents 0.297% of the total ether supply. EF insists that even during multi-year crypto market downturns, the non-profit allocates a “conservative treasury” that’s “immune to the changes in the price of ethereum.”
The reason why EF is holding so much ether is because it represents the non-profit’s belief in Ethereum’s future potential and the holdings “represent that long-term perspective.” EF Spends $48 Million in 2021
The EF report also disclosed that last year, the non-profit spent an aggregate of around $48 million, and $20 million of the total spent was directed at “external spending” such as grants.
The remaining balance funded teams and projects with the Ethereum ecosystem. The entire spending balance was placed into unique categories which include layer one (L1) research and development (R&D), layer one (L2) R&D, applied ZK research, community development, and internal operations spending.
The Ethereum Foundation is one of many organizations that hold ether in a treasury, as Bitcoin.com News recently reported on a number of ether treasuries on April 10. The report had shown 12 different companies that held close to $700 million worth of ethereum on their balance sheets. Tags in this story community development, Crypto, crypto balance sheets, ecosystem funding, EF, ETH, ETH balance sheet, ether, ether treasuries, Ethereum, Ethereum (ETH), Ethereum Foundation, Ethereum Treasuries, financial report, grants, internal operations spending, L1 research, L2 research, R&D, ZK research
What do you think about the Ethereum Foundation’s financial report disclosing its current ethereum holdings? Let us know what you think about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments NEWS | 15 hours ago Following a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days NEWS | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleTerra’s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin Next articleMicrobt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design Show comments More Popular NewsIn Case You Missed It19 Million Bitcoin Have Been Mined Into Circulation, 2 Million Left to Be Found
On April 1, 2022, records show that 19 million bitcoin have been mined into circulation. With the max supply set at 21 million, there’s only two million bitcoins left to be found by mining participants. Satoshi"s Mathematical and Predictable Design ... read more.US Senator Cruz Introduces Bill to Prevent Federal Reserve From Using Digital Currency as Surveillance Tool Indian Government Consulting With IMF, World Bank on Crypto Policy India"s Crypto Trading Volume Plummets as New Tax Rules Enter Into Force Vaneck Report Calculates Bitcoin Price Could Tap $4.8M if BTC Becomes the Global Reserve Currency