- As of October 31, 2024, the Ethereum Foundation stated that their treasury amounts to approximately $970 million, which is split between $788.7 million in cryptocurrency and $181.5 million in non-crypto assets and investments.
- In the paper, the group also described its conflict of interest policy, which forbids “EFers” from accepting outside work that is compensated with illiquid assets whose market worth is uncertain.
According to this year’s financial report, as of October 31, 2024, the Ethereum Foundation had $970.2 million in cryptocurrency and non-crypto assets.
As of the end of October 2024, the EF reported that of its $788.7 million in cryptocurrency assets, 99.45% were in ether, or 0.26% of the whole ether supply. It has $181.5 million in non-crypto assets and investments, the paper claims.
We have decided to keep most of our treasury in ETH. Our ETH holdings reflect the EF’s long-term outlook and belief in Ethereum’s future.
The EF stated that funding significant public goods for the Ethereum ecosystem is the goal of its treasury. To guarantee that it has enough funds even in the event of a multi-year market collapse, it also included a plan to adhere to a conservative treasury management approach.
This necessitates mechanically growing our fiat savings in bull markets to finance spending in bear markets and regularly selling ETH to guarantee adequate savings for upcoming years.
This comes after requests for increased openness were sparked by community criticism and outrage over a number of significant, inexplicable transactions and ether sales by the foundation without prior notice.
Putting the conflict of interest policy into practice
Concerns about possible conflicts of interest were raised last week when Ethereum experts Dankrad Feist and Justin Drake announced on X that they were leaving their advising roles with Ethereum restaking protocol EigenLayer, for which they were compensated in Eigen tokens.
In today’s report, the EF provided more information about its conflict of interest policy. In particular, employees of the foundation may engage in outside work, but they must notify the organization and confer with their team head before doing so.
According to the study, an internal discussion group must examine outside work if its overall value exceeds $25K per year.
Advisorship token bundles for pre-launch projects are one example of how EFers are prohibited from accepting employment outside the EF and receiving payment in illiquid assets with an uncertain market value. This is forbidden up front, but there may be a few exceptions, it was introduced.
2023 spending
The EF spent the most money on “new institutions” in 2023 ($47.4 million) as opposed to $28.6 million in 2022. Grants to recently established organizations that promote the Ethereum ecosystem fall under this category. According to the study, the foundation also increased its investment in Layer 1 research and development from $32.1 million in 2022 to $34.7 million.
Our commitment to promoting an open and sustainable ecosystem is maintained by EF’s long-term perspective. We’re more determined than ever to sow seeds that might not bear fruit for years, guaranteeing Ethereum’s robustness and cooperative development.
In recent months, Ethereum has experienced consistent growth. There were 13.7 million active addresses on the Ethereum network in October, up from 12.3 million in September. From $90.9 billion in September and $57.1 billion in the same period last year, its on-chain volume increased to $108.6 billion in October.
ETH increased 2.4% in the last day to trade at $2,912 at the time of writing. In the midst of a larger market boom, it has increased by 19% in the last five days.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
