Ethereum Foundation Holds $970 Million in Treasury, Focuses on Ecosystem Growth

The Ethereum Foundation (EF) sparked significant discussions across the crypto market on Friday with the release of its 2024 report, revealing a robust treasury of $970 million.

Aya Miyaguchi, the Foundation’s executive director, provided valuable insights into EF’s ongoing efforts, highlighting the diverse teams within the organization that contribute to the growth of the Ethereum ecosystem.

These teams, including the Robust Incentives Group (RIG), Protocol Support, and Devcon, focus on critical areas such as mechanism design, long-term network maintenance, and hosting events to foster collaboration and education.

EF’s grant program also plays a crucial role in driving innovation, with funds supporting organizations like Argot Collective, Geodework, L2BEAT, and the Nomic Foundation, all of which help expand Ethereum’s influence. As of October 31, EF’s total assets amounted to $970.2 million, with $788.7 million in cryptocurrencies, predominantly in ETH.

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This concentration in ETH, which represents 99.45% of its crypto holdings, raised concerns among market participants due to its disproportionate share of the coin’s total supply.

Additionally, the report revealed that EF implemented a conflict-of-interest policy this year, designed to set clear boundaries for its team members when engaging with the broader ecosystem.

The policy will be reviewed after one year for potential adjustments. The Foundation’s efforts also gained further attention with the launch of its short-lived “Mekong” testnet, marking another step forward in its ongoing commitment to Ethereum’s development and the wider crypto space.

Alexander Stefanov