Ethereum Foundation Reports 39% Decline in Treasury to $970 Million
The Ethereum Foundation has disclosed a significant reduction in its treasury, primarily due to high spending and the declining value of ether.
Ethereum Foundation Reports 39% Decline in Treasury to $970 Million
The Ethereum Foundation has recently released its financial report, revealing that its treasury has reduced to $970.2 million as of October 31, 2024. This marks a significant drop of 39% from its last known figure of $1.6 billion on March 31, 2022.
- Most of the foundation's assets are in cryptocurrencies (81.3%), predominantly in ether (ETH), which has decreased by 22% since the last report.
- The foundation's spending over the past two years has been approximately $240 million, reflecting its operational costs.
The report emphasizes the foundation's commitment to maintaining a conservative treasury management approach while ensuring the availability of funds for public goods within the Ethereum ecosystem.
Quote from the report:
"We choose to hold the majority of our treasury in ETH. The EF believes in Ethereum’s potential, and our ETH holdings represent that long-term perspective."
This financial disclosure arrives amidst increasing demands from community members for more transparency regarding the foundation’s finances, given its influential role in the Ethereum network.
Drake and Feist, prominent researchers at the foundation, have also recently stepped down from advisory roles at EigenLayer due to concerns regarding potential conflicts of interest.
Further details can be accessed in the full report here.
