Odaily News The Ethereum Foundation (EF) released its 2024 report. The report pointed out that in 2022, EF spent $105.4 million, which increased to $134.9 million in 2023, mainly investing in L1 R&D (30.4%), community development (18.5%) and internal operations (36.2%). In 2023, new institutions received the highest proportion of investment, reaching 35.2%, with a total of $474 million. EF's financial reserves were approximately $970.2 million as of October 31, 2024, of which 81.3% ($788.7 million) were crypto assets, mainly Ethereum (ETH), accounting for 0.26% of the total supply of ETH. Projects supported by EF include Argot Collective, Geodework, L2BEAT and 0xPARC, which are organizations dedicated to the development of Ethereum's core infrastructure, geographical decentralization, second-layer expansion solutions and programmatic cryptography. In addition, EF's Ecosystem Support Program (ESP) regularly reports funding activities. Between 2022 and 2023, a total of US$497 million was deployed in the Ethereum ecosystem, of which EF contributed the largest share, US$240.3 million.