Ethereum Foundation Financial Report Upcoming

The Ethereum Foundation will release a financial report “relatively soon,” addressing community concerns over its spending.

In an AMA on r/ethereum, researcher Justin Drake shared that the foundation is preparing a report similar to the one from April 2022. He described the foundation’s spending as approximately $100 million per year, with around $650 million in its main wallet, providing a runway of about 10 years, depending on Ether’s price.

Ethereum co-founder Vitalik Buterin noted, “The current approximate budget strategy is to spend 15% of our remaining money every year,” suggesting that the foundation aims to be sustainable but will gradually diminish in prominence over time.

Scrutiny has increased after large, unexplained transfers of Ether from the foundation, most notably a transfer of 35,000 ETH valued at approximately $94.07 million to the Kraken exchange. Community members have called for greater transparency regarding these financial movements.

Executive director Aya Miyaguchi explained that the funds are for treasury management, grants, and salaries, with recent regulatory challenges limiting their ability to disclose plans in advance. She reassured that this transaction does not equate to a sale, though planned sales will occur.

Community members expressed frustration on platforms like Twitter, requesting clearer and more timely financial updates from the foundation regarding expenses and team distribution.

As of now, Ether is trading at $2,380, down 0.79% in the last 24 hours.