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Ethernet Foundation AMA: Main Wallet Holds $650 Million Worth of ETH, Funding Reserves Could Cover Foundation's Expenses for Next 10 Years

Ethernet Foundation AMA: Main Wallet Holds $650 Million Worth of ETH, Funding Reserves Could Cover Foundation's Expenses for Next 10 Years

Bitget2024/09/05 14:33

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.

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