Ethereum Foundation Wallet Shrinks to $650M As Market Shifts

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The Ethereum Foundation treasury currently holds $650 million in the main wallet.

Ethereum has plunged by 5%, trading at $2,260.

The non-profit organization of the Ethereum blockchain, Ethereum Foundation, will release an updated financial report, as per the official statement. The organization’s treasury has witnessed a significant reduction, with its main wallet holding approximately $650 million.

This represents a steady decline in the foundation’s holdings since March 2022. At that point, the Ethereum Foundation treasury reported a balance of about $1.6 billion. Moreover, the Ethereum (ETH) price was notably higher, and the foundation held approximately $1.3 billion in ETH and about $11 million of “other crypto.” This underscores the market volatility that has impacted the foundation’s holdings.

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