PANews reported on August 25 that Ignas | DeFi published an article on the X platform, stating that the Ethereum Foundation allocated $30 million in the fourth quarter of 2023. In the third quarter of 2023, they allocated $8.9 million. EF allocates grants for education and niche (but cool) products that may not receive a lot of VC support. This may explain why they are reluctant to fund DeFi protocols, as they will receive external funding from VCs anyway. However, there is a lack of comprehensive and transparent reporting of total expenditures. The latest report is for 2021, showing a total expenditure of $48 million for internal expenditures and external grants and bonuses. The largest expenses are:
$21 million for L1 development
$9.7 million for community development, including grants and education
$5.1 million for internal operations (salaries, legal fees, etc.)
Therefore, 10% of total expenditures in 2021 are used to pay developer salaries and support maintenance of EF.
Earlier news, the executive director of the Ethereum Foundation stated that depositing 35,000 ETH with Kraken was part of financial management activities.
