PANews, November 8 news, the Ethereum Foundation (EF) released its 2024 report, emphasizing its core values including long-term thinking, decentralization, and value stewardship. The report shows that EF's expenditures in 2023 reached $134.9 million, of which 37.2% was used for internal operations, 35.2% supported the development of new institutions, and 25.7% was invested in L1 research and development. EF holds $970.2 million in assets and implements a conservative financial strategy to cope with market fluctuations. The report also introduces ecosystem organizations funded by EF, including the Nomic Foundation, L2BEAT, and 0xPARC, among others. Additionally, EF has implemented a conflict of interest policy to ensure its actions align with the long-term interests of the Ethereum ecosystem.
Of the $970.2 million asset reserves of EF, $788.7 million is in crypto assets, and $181.5 million is in non-crypto investments and assets. 99.45% of the crypto holdings are held in the form of ETH. These ETH account for 0.26% of the total ETH supply as of October 31, 2024.
