The Ethereum Foundation (EF) has drawn significant attention within the crypto community after revealing its 2024 report, which showcases a treasury of $970.2 million.
The report, highlighted by EF’s Executive Director Aya Miyaguchi, provides key insights into the foundation’s operations, including its various teams, grant programs, and ongoing efforts to enhance the Ethereum ecosystem. This disclosure has prompted discussions about the foundation’s influence in the Ethereum network and its strategic initiatives moving forward.
In the 2024 report, the Ethereum Foundation detailed its operations, with teams such as the Robust Incentives Group (RIG), Protocol Support, and Devcon playing pivotal roles in supporting the development and long-term sustainability of the Ethereum network. These teams focus on areas like studying cryptographic mechanisms, supporting the network’s infrastructure, and organizing events that promote collaboration, education, and Ethereum's values. The report also emphasized the importance of EF grants in driving ecosystem growth, noting that grants are evaluated and approved by EF teams and support key entities such as Argot Collective, Geodework, L2BEAT, Nomic Foundation, and 0xPARC.
As of October 31, 2024, the Ethereum Foundation’s treasury is split into $788.7 million in crypto holdings and $181.5 million in non-crypto assets. A notable concern among market participants is that the majority of EF’s crypto holdings are in Ether (ETH), which represents 99.45% of the foundation’s crypto portfolio and 0.26% of the total ETH supply. This concentration of assets in a single asset has raised alarms, as the Ethereum ecosystem relies heavily on the foundation’s holdings.
The Ethereum Foundation also introduced a conflict of interest policy in 2024, designed to manage relationships and potential conflicts within the broader Ethereum ecosystem. This policy will be reviewed after one year to assess its effectiveness and make any necessary adjustments.
Further, the Ethereum Foundation has been active in its technical advancements, recently launching the Pectra testnet “Mekong,” which has garnered additional attention in the market. The Ethereum ecosystem remains a central focus for the foundation, as it continues to drive blockchain innovation through its strategic initiatives.
In the meantime, the price of ETH traded at $2,901, reflecting a 2.5% intraday increase, with a 24-hour high of $2,954.87. Despite the rising price, the market remains closely watching EF’s financial moves and its ongoing role in Ethereum’s development.
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