As a seasoned crypto investor with over a decade of experience in this wild and unpredictable market, I find myself both intrigued and somewhat concerned by the latest revelations about the Ethereum Foundation’s financial status. On one hand, it’s impressive to see such a significant war chest, currently sitting at around $650 million. However, the fact that they’ve already burned through $1 billion in just ten years, with a burn rate of approximately $100 million per year, leaves me wondering how long this runway will last.
According to a leading figure, the Ethereum Foundation – a key non-profit group backing the Ethereum blockchain – plans to unveil a revised financial report in the near future. It’s also worth noting that the foundation’s primary Ethereum wallet is currently containing approximately $650 million.
Drake confirmed to CoinDesk that bobthesponge1 is his Reddit account.
Over the past two years, because of a faster spending pace and declining prices, our funds have seen a substantial reduction.
A Reddit user inquired about whether a contingency plan for sustainability exists, should the EF encounter a situation where its financial resources deplete.
“I’m not aware of any plan to sustainability :),” Drake responded.
The news was first reported by The Block.
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2024-09-06 19:47