The Ethereum Foundation AMA: The Ethereum Foundation's funding reserves can cover a 10-year budget
2024-09-05 14:20:45
Ethereum foundation core researcher justin drake ongoing ethereumdesk3cryptocurrencydesktopCrypto News
Justin Drake, a core researcher at the Ethereum Foundation, responded to the question "How long will the foundation's fund reserves be exhausted?" during the 12th AMA of the Ethereum Foundation. He said: The financial report of the Ethereum Foundation should be released soon. The current annual budget of the foundation is about $100 million, which is mainly composed of grants and salaries. Some grant recipients can only accept fiat currencies. At current prices, the Ethereum Foundation's main Ethereum wallet holds about $650 million worth of ETH. Previously, due to regulatory reasons, sales were temporarily stopped, so it was only recently that the reserve funds were replenished. It is roughly estimated that the Ethereum Foundation's fund reserves can cover the 10-year budget, but the amount of reserve funds is greatly affected by the fluctuations in the price of ETH.
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