The Ethereum Foundation has reported sales surpassing $10 million in ether this year. Recently, the foundation sold another 100 ETH, valued at approximately $263,000, as detailed by Lookonchain.
According to Lookonchain, the foundation has sold a total of 3,766 ETH, amounting to about $10.46 million in 2023. The community has expressed concerns regarding the foundation's spending, urging for greater transparency.
In August, it was noted that the Ethereum Foundation transferred 35,000 ETH (around $94.07 million at that time) to the Kraken exchange. Over the past week, they have sold at least 200 ether.
Ethereum co-founder Vitalik Buterin commented that the foundation's current budget strategy involves spending about 15% of its remaining funds annually, suggesting a long-term sustainability approach. Ethereum researcher Justin Drake indicated that the foundation spends around $100 million yearly, holding about $650 million in its main wallet.
As the second most popular cryptocurrency by market capitalization, Ethereum continues to hold a significant place in the crypto market, with ether currently trading at $2,617.55.
For more details, the Ethereum Foundation published a financial report in April 2022.
