The Ethereum Foundation, which has been criticized for its recent large altcoin sales, announced that it will soon publish a financial report to provide more transparency with the community. Justin Drake, one of the foundation's researchers, explained that the foundation spends about $100 million annually and holds a fund of $650 million in its main Ethereum wallet. The foundation's budget strategy is to spend 15% of its remaining funds each year to ensure its long-term viability.
The community has been demanding more information from the Ethereum Foundation due to recent large transfers. Aya Miyaguchi, the foundation's managing director, said that these sales were for donations and salaries, and that the transactions were not announced in advance due to regulatory complications. The community wants more frequent and transparent disclosure of the foundation's financial reports and expenditures.
