The Ethereum Foundation, the main non-profit organization supporting the Ethereum blockchain, is set to release an updated financial report "soon." According to a top official, the organization's main Ethereum wallet currently holds about $650 million, down from about $1.3 billion as recently as March 2022 when the price of Ethereum's native cryptocurrency, ether (ETH), was higher.
Justin Drake, a prominent researcher at the Ethereum Foundation (EF), revealed in a typed ask-me-anything on an Ethereum subreddit that the EF spends roughly $100 million per year and currently has roughly a 10-year runway, depending on the price of ether (ETH), the blockchain's native token. Drake confirmed that the EF has a fiat buffer to cover a couple of years of runway, and that ETH sales were temporarily paused for regulatory reasons, so the buffer wasn't replenished until recently.
The last time the EF released insights on its financial holdings was in March 2022, at which point the EF treasury reported a balance of about $1.6 billion, including $1.3 billion of ETH and about $11 million of "other crypto." However, over the last two years, due to the burn rate and price decreases, the funds have significantly decreased.
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