As a seasoned crypto investor with a keen interest in Ethereum and its ecosystem, I find Vitalik Buterin’s salary revelation intriguing, to say the least. While $139,500 might seem like a substantial sum for some, it’s a drop in the ocean compared to his staggering net worth of over $1.5 billion. It’s almost comical to think that someone with such astronomical wealth is living on a mere salary, but then again, this is the world of cryptocurrencies we’re talking about!
As an analyst, I’d like to share some insights: Recently, I learned that Vitalik Buterin, co-founder of Ethereum, disclosed his annual income from the Ethereum Foundation. This salary amounts to approximately 182,000 Singapore Dollars, which equates to around $139,500 in U.S. currency.
These are, of course, mere pennies compared to Buterin’s personal net worth, which reached $1.5 billion in 2022, according to Forbes.
According to the data from Arkham Intelligence’s blockchain analysis platform, Ethereum co-founder Buterin currently possesses approximately $625 million in cryptocurrency assets.
Shedding light on EF’s spending
Buterin recently shared an update from Josh Stark of EF regarding the organization’s spending.
A substantial portion of Ethereum Foundation (EF) spending goes towards “New Institutions,” which is a significant part as outlined by Stark. The main objective of EF in this regard is to establish new entities that could potentially bolster the Ethereum community. This sector encompasses funding for various organizations, like the Nomic Foundation and 0xPARC Foundation, among others.
Updates from @0xstark on EF spending.
The key info is in this chart.
The “new institutions” category basically means @NomicFoundation, @TheDRC_ , @l2beat, @0xPARC etc – no World Economic Forum insect protein research here!
More info has been and will be published; see thread.
— vitalik.eth (@VitalikButerin) August 27, 2024
The budget for internal expenditure encompasses groups such as Geth, Solodigy, Devcon, Next Billion, among others. As Stark explained, these teams are transparent in their operations, regularly updating information about their activities on their respective websites, GitHubs, and social media platforms.
When it comes to grants (external spending), EF has been routinely covering its wave of grants.
To illustrate, during the initial phase, several ventures were granted financing, such as Xerxis, Espacio Cripto, ETHKL, Borderless Africa, Nethermind, among others.
EF’s spooky transfers
EF often faces examination because its transfers to exchanges are commonly seen as a potential signal suggesting the peak of local markets.
According to U.Today, EF sent shockwaves through the market with a significant transaction that occurred on August 23rd. Notably, this was their largest transfer of the year 2024.
Stark pointed out that verifying if a specific transfer originates from the Ethereum Foundation can be done effortlessly, as the foundation’s treasury is clearly visible in real-time on the blockchain.
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2024-08-27 18:34