Today in crypto, a new report from the Ethereum Foundation revealed that entities across the Ethereum ecosystem spent $497 million to fund projects in 2022 and 2023, BlackRock’s iShares Bitcoin Trust clocked its first $1 billion inflow day as Bitcoin reached yet another new all-time high, and former Alameda Research CEO Caroline Ellison is scheduled to report to prison to begin her two-year sentence.
Ethereum deploys nearly $500 million to ecosystem projects in 2022–23: Report
The Ethereum Foundation reported that almost $500 million was deployed to support ecosystem projects in 2022 and 2023.
The foundation’s 2024 annual report revealed that entities across the Ethereum ecosystem spent $497 million to fund projects, with $240.3 million, or 48.3%, contributed by the Ethereum Foundation itself.
Apart from the funds spent to support projects, the Ethereum Foundation said the entire ecosystem is supported by over $22 billion in treasury funds.
The treasuries belong to foundations, organizations and decentralized autonomous organizations (DAOs). Projects like Optimism, Uniswap, Mantle, Arbitrum, Gnosis and Ethereum Name Service hold billions in their treasuries. The Ethereum Foundation has $970 million in its treasury.
BTC investors pour $1.1 billion into BlackRock Bitcoin ETF
The world’s largest asset manager, BlackRock, accumulated over $1 billion of inflows to its Bitcoin exchange-traded fund (ETF) across a record trading day as Bitcoin continued to break all-time highs.
On Nov. 7, BlackRock’s spot Bitcoin
BTCUSD
ETF (IBIT) clocked $1.1 billion in inflows, reclaiming inflow day status after two consecutive days of outflows totaling $113.3 million, according to Farside data.
Bloomberg ETF analyst Eric Balchunas admitted he was “surprised” by the size of the inflows despite already expecting a large number based on the previous day’s trading volume.
“Told y’all it was prob gonna be big, altho even I am surprised it’s that big, by far biggest one day flow of any btc etf ever,” Balchunas wrote in a Nov. 7 X post.
Let’s go to prison
Caroline Ellison, the former CEO of Alameda Research, reported to prison on Nov. 7 to begin a two-year sentence for crimes related to the collapse of the FTX cryptocurrency exchange.
According to the US Department of Justice, Ellison is expected to surrender in Boston, perhaps indicating she will ultimately report to the closest federal minimum-security prison, which is in Connecticut. She becomes the third US inmate currently serving time for crimes related to the FTX collapse, including the former CEO of FTX, Sam Bankman-Fried, who was sentenced to 25 years for his part.
