Vitalik Buterin Sheds Light on Ethereum Foundation's 2023 Spending

The foundation clarified that approximately 38% of its spending in both years was directed toward internal initiatives, while the remaining 62% was allocated to external grants.

Internal spending includes support for key teams working on projects like Geth, Privacy & Scaling Explorations, Solidity, and Cryptography Research.

According to the thread, these teams operate highly transparently, regularly sharing updates and progress with the community.

One of the most scrutinized aspects of the spending report was the “new institutions” category.

The EF clarified that this category refers to grants from emerging organizations such as the Nomic Foundation, the Decentralization Research Centre, L2Beat, and the 0xPARC Foundation.

They further humorously dispelled rumors that the EF might be funding unrelated initiatives, such as “World Economic Forum insect protein research,” by pointing out that the funds were instead used to support entities closely aligned with Ethereum’s long-term vision.

But really? Inspect protein research?

The remarks also touched on the Ethereum Foundation’s broader mission; the thread explained that the foundation’s strategy involves funding immediate research and development needs and investing in the future by supporting new institutions that can carry the torch of decentralization.

The forthcoming report is expected to provide even more detailed insights into the foundation’s financial practices and offer the community a clearer understanding of how resources are being used to advance Ethereum’s mission.

Notably, a passerby on Buterin’s tweet asked;

“What about Mr Vitalik’s salary?” He asked curiously.

182,000 SGD per year. That’s approximately close to $140k US Dollars.

Is that really the salary of the Ethereum cofounder? Hopefully, the report will shed more light.