Home
News
- According to the article, the organization had a treasury of roughly $1.6 billion at the end of March, including $1.3 billion in crypto assets. The non-profit also revealed that during the same time period, 99.1% of its cryptocurrency assets were in ETH, accounting for around 0.297 percent of the total ETH supply.
- Ethereum now only has 55% of the total TVL, according to Defillama. While it still holds the top rank, Ethereum accounted for about 70% of the entire TVL last year.
- This essentially suggests that EF committed to sell ETH during a bull market to help fund its non-crypto investments. The EF believes in Ethereum’s promise, and our ETH holdings embody that long-term approach, the foundation added.
The Ethereum Foundation has released its first report revealing its treasury holdings, stating that it pursues a conservative treasury management policy to assure funding for the organization’s fundamental goals. Crypto experts, notably trader Edward Morra, have stated on several occasions that the non-profit has been effective in timing the market to cash out Ethereum peaks.
Critiques of the Ethereum Organization
According to the article, the organization had a treasury of roughly $1.6 billion at the end of March, including $1.3 billion in crypto assets. The non-profit also revealed that during the same time period, 99.1% of its cryptocurrency assets were in ETH, accounting for around 0.297 percent of the total ETH supply.
They seek to clarify the reasoning and philosophy that determine their path of action, according to Aya Miyaguchi, Executive Director of the Ethereum Foundation. There are many interesting stories to share about how EF teams contribute to the ecosystem beyond allocating financial support, Miyaguchi said. Members of the EF community also undertake a lot of non-financial work behind the scenes. We are not a typical top-down company, the Executive Director agreed.
The Ethereum project’s foundation claims that it is not a normal non-profit or even a corporation. Their role is not to govern or lead Ethereum, nor are they the sole organization that sponsors crucial development of Ethereum-related technology, the group said. The EF is a little element of a much bigger picture. EF explains in the report that it pursues a conservative treasury management philosophy to assure funding for fundamental objectives even if the market is down for several years. This element of our budget is resistant to substantial swings in the price of ETH, it stated.
ALSO READ – Silk Road Founder Ross Ulbricht To Forfeit $3 billion worth of BTC To The US Government
The Progress Of Ethereum As Well As The EF Pay Off
The cryptocurrency market, which last year topped a $3 trillion cumulative market value, has been on a bumpy road to recovery, with the cryptocurrency market cap hovering around $1.92 trillion today. Meanwhile, according to CoinGecko, Ethereum has dropped 5% in the last 24 hours and nearly 17% in the last two weeks. Recently, Ethereum has lost a substantial amount of market share in terms of total value locked (TVL) on the network’s decentralized apps. Ethereum now only has 55% of the total TVL, according to Defillama. While it still holds the top rank, Ethereum accounted for about 70% of the entire TVL last year.
The foundation clarified its position in response to charges that it profited during its peak. ‘They boost their non-crypto funds in reaction to rising ETH prices, providing a greater safety margin for their core budget and funding non-core but high-leverage projects during a market downturn,’ they claim. This essentially suggests that EF committed to sell ETH during a bull market to help fund its non-crypto investments. The EF believes in Ethereum’s promise, and our ETH holdings embody that long-term approach, the foundation added.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
