Ethereum Foundation (EF) contributor Josh Stark posted a breakdown of the organization’s expenditures for the past two years on social media on Aug. 27.
Stark shared the information after growing speculation that the foundation might plan to sell a large amount of Ethereum. The rumors sprang up after a wallet linked to the foundation made a large transfer.
Stark also hinted that the foundation intends to publish an expenditure report before this year’s Devcon, which is scheduled for Nov. 12.
Funding breakdown
Stark shared two pie charts showing the foundation’s fund allocation for 2022 and 2023. The charts contain seven main areas: new institutions, L2 R&D, applied ZK, community development, developer platform, internal ops, and L1 R&D.
In both years, research and development (R&D) of Layer 1 improvements and new institutions were allocated the highest funding. Stark explained:
“Those graphs capture both internal and external spend. For example, ‘L1 R&D’ inc
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