Ethernet Foundation AMA: Main Wallet Holds $650 Million Worth of ETH, Funding Reserves Could Cover Foundation's Expenses for Next 10 Years
Justin Drake, Core Fellow at the Ethernet Foundation, responded to the question of how long before the Foundation runs out of money in its reserves during the 12th AMA of the Ethernet Foundation. The EtherFoundation's financial report should be available soon. Currently the Foundation has a budget of roughly $100 million a year, (made up mostly of grants and salaries, and some grant recipients can only accept fiat currencies.) At current prices, the Ether Foundation's main Ether wallet holds about $650 million worth of ETH. selling was previously temporarily halted for regulatory reasons, so reserve funds have not been replenished until recently. As a rough estimate, the Ether Foundation has reserves to cover a 10-year budget, although the amount of reserve funds is subject to ETH price fluctuations.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
RootData: HUMA will unlock tokens worth approximately $3.26 million in one week
Vitalik calls for the Ethereum base layer to "ossify", urging innovation to shift to the L2 ecosystem
Data: BTC short-term holders capitulate, on-chain data shows panic selling is nearing its end