Ethereum Foundation Shares Insight Into Current Holdings: Details

The Ethereum Foundation has disclosed its financials amid growing demand for transparency per its latest spending

The Ethereum Foundation (EF) has released its financial report for 2024, showing that its treasury holds $970.2 million. As a key supporter of the Ethereum (ETH) blockchain, the organization attracts attention with details about its cryptocurrency and non-cryptocurrency assets. According to the report, EF holds $788.7 million in crypto assets, mostly in Ether, and $181.5 million in non-crypto assets and investments.

Ethereum Foundations Holds $788.7M in Crypto Assets

A key point from the report is that 99.45% of EF’s crypto holdings are in Ether. This makes up 0.26% of the total Ether supply as of October 31, 2024. This shows that the foundation wants to be a long-term partner in the Ethereum ecosystem. By holding a large amount of Ether, EF demonstrates its support for Ethereum’s growth and future development. 

The Ethereum Foundation (EF) has $181.5 million in investments outside cryptocurrency. These investments help the foundation diversify its finances and lower risks from the unpredictable crypto market. Aya Miyaguchi, the Executive Director of EF, spoke about the organization’s goals and efforts to help the Ethereum community. She emphasized how the EF teams are working to improve the blockchain.

This includes ongoing projects related to Ethereum’s roadmap, funding for research, protocol upgrades, and layer-2 scaling solutions. Likewise, the report highlights the foundation’s promise to be open and to support the ecosystem.

Meanwhile, Dogecoin co-founder Billy Markus recently triggered a community conversion on the prospects of ETH retesting its ATH very soon. Billy gave a fun and honest reply to the prediction that Ethereum will reach a new all-time high. He reposted a screenshot on X highlighting Ethereum’s 8% rise in September, a month historically challenging for most cryptocurrencies.

Ethereum to Reinforce its Leadership

Moreover, Ethereum co-founder Vitalik Buterin uncovered new pivotal goals for the network’s future developments. Buterin emphasized the need to improve Ethereum in four key areas: scalability, cross-chain compatibility, user experience, and security. The first goal focuses on increasing Ethereum’s throughput to over 100,000 transactions per second (TPS) through Layer 2 (L2) scaling solutions.

The second main goal is to enable cross-chain transfers in two seconds. Buterin emphasized the importance of smooth interactions between Ethereum and other blockchains. He imagined a future where users could quickly move assets and data across different chains. 

He stressed that ensuring cross-chain security is more important than adding new Ethereum Virtual Machine (EVM) features. This means we should focus on security first. Ethereum can gain trust in the broader blockchain community by making cross-chain bridges safe. Remember, Vitalik has set a standard that Layer 2 projects must reach to get his attention.

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