Ethereum Foundation Increases Its ETH Holdings
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According to a 2021 financial report released today, the Ethereum Foundation treasury has $1.3 billion in Ethereum, $300 million in non-crypto investments, and another $11 million in other cryptocurrencies.
The foundation’s Ethereum holdings amounted to nearly 3% of the total ETH supply as of March 31, 2022.
On its blog, the foundation posts information about grant expenditure and donations on a regular basis, but this is the first time it has released an annual financial report.
According to Ethereum Foundation director Aya Mayaguchi, as the network grows, the foundation has started encouraging third-party allocators.
In the paper, Miyaguchi noted, “[We believe] that more decentralised finance is vital for the future of the Ethereum ecosystem.” “We are always attempting to give resources to third parties who, in particular domains, we believe can make better decisions than we can.”
She stated on Twitter that she would provide additional information about the foundation’s vision and beliefs during a Devconnect event in Amsterdam.
The foundation spent a total of $48 million last year. The Ethereum main net upgrade and external grants for network stress testing accounted for $21.8 million in layer-one research and development.
Spending by the Ethereum foundation
The Ethereum merge, which will move the Ethereum network to a proof-of-stake (PoS) consensus model, has been postponed until Q3 of 2022.
On Twitter, Tim Beiko, an Ethereum core engineer, remarked, “It won’t be June, but certainly in the few months after.” “We don’t have a clear date yet, but we’re definitely towards the end of Ethereum’s [proof of work] chapter.”
$9.7 million went to community development, $5.9 million to the developer platform, $5.1 million to internal operations and support, and $3.6 million to applied Zero-Knowledge (ZK) research and development.
Cryptocurrency
