So What if the Ethereum Foundation Holds Fiat?

The EF said it spent $48 million last year to continue its mission of growing the Ethereum ecosystem. “Approximately $20 million of this total was in the form of external spending, which includes grants, delegated domain allocations, third party funding, bounties, and sponsorships,” according to the report. “The remaining $28 million was used to fund teams and projects within the EF community.”