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Thursday, March 23, 2023

Treasury Of Ethereum Foundation Expanded With 19% Non-Crypto Assets

A report has been recently published by the Ethereum Foundation that showed that their treasury worth $1.6 billion consists of only Ether. However, it was also observed that 18.8% of their treasury consists of non-crypto assets. Thus, the Ethereum Foundation (EF) is a non-profit organization that handles all the money for the development holds of Ethereum and is about 0.3% of its recent aggregate supply of ETH. 

Ethereum Foundation Disclosed Its Aggregate Holdings Of Non-Crypto Assets

This amounts to approximately $1.3 billion which can be verified on Etherscan. Though the holdings account of non-crypto is for a $302 million share. The report that came out in April this year was issued by the Foundation to show the amount it held in the treasury and the procedure of allocating the expenditures which included funding permission for numerous projects based on Ethereum. 

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Thus, it is clearly evident that Ethereum Foundation is currently enjoying a strong financial base by just spending $48 million in the previous year. The above-mentioned report showcased that there was an increase in the holdings of non-crypto to $302 million from an undisclosed amount in the past. This amount will help in providing a safety margin while giving an effort to safeguard it against a deterioration in the market of crypto. 

The ER immediately did not respond to the application of a request for disclosing all the details regarding holdings on non-crypto. However, Justin Drake, the researcher of Ethereum, gave a suggestion in his tweet on Monday that holdings of non-crypto assets maybe are just reserves of fiat

The EF has spent a total of $21.8 million on the development and research of layer-1, which accounted to be the largest share in the previous year as per its expenditures. The Foundation also spent $9.7 million on the development of the community, $5.9 million on ETH as being the platform for the developer, and $1.9 on the research of layer-2.

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