Understanding Vitalik Buterin’s Income 💸
Vitalik Buterin, the co-founder of Ethereum, recently revealed that he earns close to $139,500 annually from the Ethereum Foundation. This disclosure has sparked conversations about transparency within the cryptocurrency space, especially given Buterin’s significant net worth of almost $1 billion. It is noteworthy that Buterin has not sold any ETH for personal gain since 2018.
Transparency Initiatives 🌐
The revelation of Buterin’s salary has raised questions about how the Ethereum Foundation allocates its funds. Concerns have been raised about the gas fees collected by the non-profit organization that plays a crucial role in the Ethereum ecosystem.
- Buterin and Josh Stark, another Foundation member, have pledged to provide a detailed report on the Foundation’s expenditure at the upcoming Devcon SEA event in November.
- This report aims to bring transparency to the allocation of funds and the strategic priorities of the Foundation.
The Foundation’s 2023 budget shows a significant portion allocated to “New Institutions,” indicating a growing commitment to funding organizations aligned with Ethereum’s long-term vision.
Budget Allocation Breakdown 💰
Layer-1 research & development receives the second largest share of the budget, with 24% of the total allocation. This funding supports necessary improvements and testing on the Ethereum mainnet, including the recent Dencun release.
- In the first quarter of 2024, the Foundation disbursed over $11 million to external teams, demonstrating a commitment to community development.
Ethereum Price and Market Trends 📈
Currently, Ethereum is trading at around $2,589, with a 5% decrease in the last 24 hours, signaling market volatility.
- Derivatives markets for Ethereum are showing positive signs, with a significant increase in options trading volume, indicating continued interest from investors.
Hot Take 🔥
During a recent disclosure, Ethereum co-founder Vitalik Buterin surprised the crypto community by revealing that he earns almost $139,500 from the Ethereum Foundation annually.
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