The Ethereum Foundation held more than $1.6 billion in treasury assets at the end of March, the non-profit said Monday.
- Almost $1.29 billion was held in ether (ETH), the world’s second-largest cryptocurrency by market capitalization. That represented over 0.297% of the total ether supply as of March 31. Some $11 million was held in other cryptocurrencies.
- The treasury also included about $300 million in non-crypto investments. The foundation did not return requests for details on the makeup of these assets at writing time.
- “We also increase our non-crypto savings in response to rising ETH prices,” the foundation said in the report. “(This) provides a greater safety margin for our core budget and would enable us to continue funding non-core but high leverage projects through a market downturn.”
- The holdings included 39,168 ether already committed to client teams building on Ethereum, according to the report.
- The foundation funds research and development on Ethereum and related technologies. It spent in excess of $48 million on various teams, funding and bounties last year, the report said.
- Ethereum developers, agencies, and teams involved in the foundation’s activities pocketed a cumulative $5.1 million in 2021, the report noted.
- Research and development of layer 1, or base blockchains, saw a majority of last year’s spending at over $21 million, which included research on mainnet upgrade, security, mechanism design and grants to external clients.
- Ether is trading just over $3,050 at writing time, CoinGecko data show.
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