#ETHETFsApproved Vitalik Buterin Reveals Salary Amid Scrutiny of Ethereum Foundation Finances
• Ethereum Foundation’s 2023 budget: 36.5% on new institutions, 24.9% on Layer-1 R&D, prioritizing long-term ecosystem growth.
• Vitalik Buterin’s 2023 salary $139,000, while 90% of his net worth remains in ETH, highlighting transparency and commitment.
• 6.2% budget increase for new institutions in 2023, reflecting Ethereum Foundation’s focus on future infrastructure and ecosystem support.
Vitalik Buterin has explained the Ethereum Foundation’s monetary expenses for 2023. The report has increased community curiosity regarding what the foundation spends, especially on areas that highly impact the ecosystem.
Buterin also revealed that his annual salary is SGD 182,000 (approximately $134,000).Major Expense CategoriesAmong the most emphasized categories in the 2023 budget were the New Institutions under focus by the Ethereum Foundation.
The three major categories had 36.5% of the total expenditure in the New Institutions category.
This spending category would foster new organizations aligned with the Ethereum long-term vision, including the Nomic Foundation, Decentralized Research Center, and 0xPARC Foundation.
The higher percentage of this category now stands at 26.2%, compared to 23.8% in 2022, which indicates that the firm is willing to build infrastructure and institutions that will help drive the Ethereum community into the future.
Layer-1 (L1) R&D is the next largest cost, accounting for 24.9% of the budget. This area remains important for keeping the Ethereum mainnet healthy and upgraded. It includes internal projects of the Foundation and grants to teams working on critical parts of the ecosystem, such as those supporting the Go-Ethereum client (Geth), Solidity research, and the Robust Incentives Group on the ETH stack. The allocation also helps fund Devcon and other major upgrades for Ethereum’s mainnet, including the recently targeted Dencun upgrade.
