Its $1.6 billion treasury is largely made up of Ether (ETH), but it also includes a shocking 18.8percent in non-crypto assets.
In all, the EF non-profit organization, which administers funding for Ethereum development, controls around 0.3 percent of the current total ETH supply, totaling to approximately $1.3 billion, as verified by the scan. Its non-crypto interests, on the hand, account for a hefty $302 million stake.
The Foundation's April 2022 report is the first to describe what it has in its treasury and how it is allocating spending, including grant financing for various Ethereum-based initiatives. Overall, the EF looks to be on solid financial ground, having spent only $48 million in 2021.
According to the report, it has boosted its non-crypto assets to $302 million from an unknown sum earlier. That amount is intended to create "a higher safety buffer"in order to safeguard it from a crypto market slump.
The Foundation did not immediately reply to a request for information on its non-crypto assets. According to Ethereum researcher JustinDrake, non-crypto assets are just currency deposits on an exchange.
It also spent $9.7 million on community development, $5.9million on Ethereum as a developer platform, $5.1 million on foreign operations, $3.6 million on ZK (zero-knowledge) R&D, and $1.9 million on layer-two (L2) R&D.
The EF's financial report comes just a few months before The Merge when the Ethereum main net will switch to a proof-of-stake (PoS)consensus process. This is projected to significantly lower the network energy consumption as well as its carbon impact.
It spent a further $9.7million on community development, $5.9 million on Ethereum as a developer platform, $5.1 million on international operations, $3.6 million on ZK (zero-knowledge)research and development, and $1.9 million on layer-two (L2) research and development.
The EF’s financial reportcomes just a few months before The Merge is scheduled to take placewhere the Ethereum mainnet transitions to a proof-of-stake (PoS) consensus algorithm. Doing this is expected to vastlyreduce the network's energy requirements and carbon footprint.
