Vitalik Buterin's plan to enhance the transparency of the Ethereum Foundation is yielding results. Recently, the foundation's multisig wallet received 50,000 ETH, equivalent to $132 million.
Recent Changes in Ethereum Foundation
The Ethereum Foundation announced a fund inflow of 50,000 ETH, which will be used to engage in the DeFi sector. Vitalik Buterin emphasized these changes are aimed at improving the treasury management transparency.
Background of Current Developments
The Ethereum Foundation has long faced criticism for its opaque treasury management policies. Proposed changes include replacing Executive Director Aya Miyaguchi with Danny Ryan, the former Ethereum Foundation researcher leading the network's proof-of-stake upgrade.
Future Steps of Ethereum Foundation
Among Vitalik Buterin’s suggestions is the utilization or distribution of some of the foundation’s roughly $1 billion in ETH holdings. This would reduce the 'selling pressure' experienced when swapping ETH for stablecoins to pay salaries.
These initiatives demonstrate the Ethereum team's commitment to improving the foundation's transparency and management efficiency. More policy changes are expected in the future.
