The Ethereum Foundation recently disclosed its financial report, stating that it had $970.2 million in its treasury as of Oct. 31. This amount represents a 39% decrease from the $1.6 billion it held on March 31, 2022. The majority of the foundation’s holdings are in cryptocurrency, with 81.3% of its treasury consisting of crypto assets, primarily in ether (ETH).
Over the course of 2022 and 2023, the foundation spent around $240 million. However, the value of ETH has decreased by 22% since the last financial snapshot in March 2022. Despite this decrease, the foundation remains committed to holding the majority of its treasury in ETH, citing its belief in Ethereum’s long-term potential.
In addition to financial updates, the foundation also announced the implementation of a new conflict of interest policy. This policy requires researchers and developers to disclose any outside work they undertake and any investments they make. If the outside work pays more than $25,000 annually or involves investments, it must be reviewed by a discussion group to prevent conflicts of interest.
The disclosure of the foundation’s financial report comes after calls from the community for greater transparency regarding its financial holdings. The foundation’s commitment to funding important public goods for the Ethereum ecosystem remains unwavering, despite market fluctuations. The foundation aims to ensure it has sufficient resources to support the ecosystem even in the event of a prolonged market downturn.
It is important to note that CoinDesk, the media outlet reporting on this news, upholds strict editorial policies to ensure integrity, editorial independence, and freedom from bias in its publications. The journalists at CoinDesk are dedicated to providing accurate and unbiased information to their readers.
Overall, the Ethereum Foundation’s financial report sheds light on its current financial standing and commitment to supporting the Ethereum ecosystem. As the cryptocurrency market continues to evolve, transparency and responsible financial management will be crucial for the foundation’s long-term success and sustainability.
