Ethereum Foundation Records US$788 Million in Crypto Asset Reserves
The Ethereum Foundation (EF) reported crypto asset reserves of US$788 million or equivalent to Rp12 trillion.
Most of these reserves, or 99.45% to be exact, are in the form of their own crypto, Ethereum (ETH).
In addition to crypto, EF also has non-crypto assets of US$181.5 million by the end of October 2024.
To ensure long-term stability, EF plans to sell ETH periodically and accumulate fiat reserves during the up market to weather the down cycle.
"This is part of our conservative management policy to ensure sufficient resources, even in declining market conditions for several years," wrote the Ethereum Foundation.
EF's largest expenditure last year was allocated to institutions reaching US$47.4 million. Meanwhile, Layer-1 research and development funds increased by US$34.7 million.
"This long-term approach is intended to support the continued growth of Ethereum," said EF Executive Director Aya Miyaguchi via her personal X account.
However, Ether also showed positive momentum with a surge in active wallets and on-chain transaction volume in October. The price of ETH also increased 15% to US$2,912 in the past week.
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