he Ethereum Foundation (EFESP) has been supporting many startups over the years. In Q2 alone approximately $8.2 million dollars was invested in order to support 98 startups. The grants were distributed in multiple different categories.
Community and Education
Most of the grants were allocated to community and education purposes such as ethereum conferences and community meetups, with the support of 41 projects.
Cryptography and Zero-Knowledge Proofs
In second place with 28 projects was the “Cryptography & zero-knowledge proofs” category that included projects on employing it for identity and education, this is a relatively new concept that has not reached its full potential yet, but is extremely important for mass adoption.
Reporting Amid Controversy
The report was initiated by ethereum founder, Vitalik Buterin, who stated that transparency is crucial in order to help track how the ethereum foundation is spending its money and for good reason that would benefit the crypto community as a whole. This initiative comes after accusations that the ethereum foundation transferred approximately 34,000 ETH to an exchange, raising worry that they were preparing to sell.
A lot of funding for Ethereum’s ecosystem
The ethereum foundation records spending more than $20 million dollars in grants in order to support projects and the crypto community which accounts to a third of the annual budget of projects of last year. Moreover, The Ethereum Foundation’s wallet contains over $751 million in different crypto assets with the highest balance being held in ETH.
