Vitalik Buterin, the co-founder of Ethereum (ETH-USD), recently shared that he earns a salary of about $139,000 per year as part of the Ethereum Foundation. Even though he owns almost $1 billion worth of ETH, he hasn’t sold any for personal gains since 2018. This info came out as people on social media started questioning how the Ethereum Foundation uses its funds.
As a result, Buterin and another foundation member, Josh Stark, gave a preview of how the organization is spending its money, with a full report promised by November. So far, it looks like 36.5% of the foundation’s 2023 budget went to supporting “New Institutions,” which was up from 23.8% in 2022 and shows a growing focus on projects related to Ethereum.
This includes funding for groups like the Nomic Foundation and L2Beat to help with Ethereum’s long-term goals. The next biggest part of the budget went to research and development for Ethereum’s mainnet, which included important upgrades.
Will ETH Ever Go Back Up?
Using TipRanks’ technical analysis tool, the indicators seem to point to a negative outlook on Ethereum. Indeed, the summary section pictured below shows that four indicators are Bullish, compared to six Neutral and 12 Bearish indicators.
