Ethereum Foundation Holds $1.3B in Ether, $300M in Non-Crypto Investments
- December 8, 2022
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The ether held by the non-profit represents about 0.3% of the total ether supply as of March 31, 2022.
The Ethereum Foundation held more than $1.6 billion in treasury assets at the end of March, the non-profit organization said Monday.
$1.29 billion was held in ether, which represented nearly 0.297% of the total cryptocurrency supply as of March 31. Some $11 million was held in other cryptocurrencies, such as Bitcoin and Litecoin.
The foundation did not return request for details at the time this article was written.
“In response to the rising price of ETH, we will also increase our non-crypto savings,” the foundation said in the report. “This provides a greater safety margin for our core budget and would enable us to continue funding high-leverage, but non-core projects through a market downturn.”
The report stated that 39,168 ether is already committed to client teams building on Ethereum.
The foundation has not only been funding research and development on Ethereum and related technologies, but it also spent in excess of $48 million last year on various teams and bounties. The report said.
Developers, agencies, and teams involved in the Ethereum Foundation’s activities pocketed a cumulative $5.1 million in 2021, according to the report.
Research and development of the base blockchains like Bitcoin saw $21 million in spending, which includes research on how to upgrade the main net, security, and design. Spending was also high for grants given to external clients.
According to CoinGecko data, at the time of writing, Ether is trading just over $3,050.