ethereum

Ethereum Foundation Addresses Community Concerns with Financial Report

The Big Whale

— 1 min read
  • The Ethereum Foundation plans to release a financial report soon, addressing community concerns about its spending.
  • The foundation currently holds about $650 million in its main Ethereum wallet.
  • The budget strategy is to spend 15% of remaining funds each year, providing a financial runway of approximately 10 years.
  • Community members have criticized the foundation for unexplained large ether transfers in recent weeks.
  • The foundation's budget management involves grants, salaries, and planned sales of ether.

Summary :
The Ethereum Foundation plans to release a financial report in response to community concerns about its spending. The foundation currently spends around $100 million per year and holds approximately $650 million in its main Ethereum wallet. This provides them with a financial runway of about 10 years. The foundation has faced criticism for a series of large ether transfers and lack of transparency. The report aims to address these concerns and provide greater transparency.

Sources :

- CoinTelegraph
- CoinTelegraph
- Decrypt
- Decrypt
- TheBlock
- Coindesk

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