Ethereum Foundation's Crypto Holdings Surge Past $650 Million
CryptoNewsTerminal Staff06 Sep, 2024
Ethereum Foundation's Crypto Holdings Surge Past $650 Million
The Ethereum Foundation, a non-profit organization that supports the development of the Ethereum blockchain, has seen a significant increase in the value of its crypto holdings in recent months. According to a recent report by Coindesk, the Foundation's main wallet now holds approximately $650 million worth of crypto. This represents a substantial increase from the $1.6 billion in total assets reported in March 2022, with the majority of the increase attributed to the rise in the price of ETH. The Foundation's crypto holdings are primarily composed of ETH, with 99.1% of its crypto assets being held in this form. At the time of the March 2022 report, the Foundation's ETH holdings were valued at around $1.288 billion. The recent surge in the price of ETH has likely contributed significantly to the increase in the value of the Foundation's crypto holdings. Sources familiar with the matter have indicated that the Foundation is expected to release an updated financial report in the near future, which should provide further insights into the organization's financial position.
