Wednesday, November 20, 2024 – Ethereum Foundation (EF), the second largest blockchain platform, secured $970.2 million in its treasury by October 31, its recent financial report on November 8, said.
The EF financial report can be found here
Compared to the financial report released in March 2022, a dip of 39% could be observed in 2023, as $1.6 billion had been raised as of 2021.
According to the latest report, $788.7 million (81.3%) in crypto and $181.5 million (18.7%) in non-crypto assets have comprised an approximate total of $970.2 million.
The majority of crypto firms held ETH (99.45%), representing 0.26% of the total ETH supply on October 31 this year.
Driven by long-term goals and the tendency to invest in ETH, the Ethereum Foundation would thrive on its aspirations, and indications are significantly presented via the EF financial report 2024.
In 2023, EF spent a total of $134.9 million investing a highest of $47.4 million (35.2%) for new institutions, whereas $105.4 million was allocated for EF spending in 2022, where the L1 R&D category was a major concern ($32.1 million, or 30.4%).
Nevertheless, in 2023, $50.2 million (37.2%) has been allocated as internal spending, while $84.7 million (62.8%) million of the larger amounts has been invested for external spending by EF.
The Ethereum Foundation is a large community of numerous firms, organizations, and individuals collaborating for a shared commitment to fostering the blockchain ecosystem.
