Ethereum Foundation’s Main Wallet Down to About $650M, Top Official Says

Drake
confirmed
to
CoinDesk
that

bobthesponge1
is
his
Reddit
account.

“The
EF
has
a
fiat
buffer
to
cover
a
couple
of
years
of
runway,”
he
wrote
in
the
AMA
session.
“ETH
sales
were
temporarily
paused
for
regulatory
reasons
so
the
buffer
wasn’t
replenished
until
recently.”

The
last
time
the
EF
released
insights
on
its

financial
holdings
was
in
March
2022,
at
which
point
the
EF
treasury
reported
a
balance
of
about
$1.6
billion.
That
included
$1.3
billion
of
ETH
and
about
$11
million
of
“other
crypto.”