Ethereum Developers Divulge their ETH Holdings, Clear the Air About Leadership & Accountability

Recently, we reported the incident that led the core developer of Ethereum, Afri Schoeden to quit the project after the whole fiasco over his comment, “Polkadot delivers what Serenity ought to be” that stirred negative responses from the community.

While making the move to quit Ethereum and social media, Schoeden further shared that his contribution since 2015 up until today that involves the coordinating the hard fork has been unpaid.

With Schoeden quitting Ethereum, this raised the questions on Ethereum’s leadership and accountability that the Ethereum Foundation’s Hudson Jameson addressed through an Ask Me Anything (AMA) on Reddit where they also disclosed their holdings in Conflict of interest statement and said,

“We should work on our issues together.”

Vitalik Buterin the co-founder of Ethereum also revealed how much percentage of ETH is part of his portfolio that is just about 90 percent while stating,

“I'd definitely support more people actively involved in protocol decision-making making such statements!”

  • Non-ethereum-ecosystem tokens: BCH, BTC, DOGE, ZEC; total value < 10% the value of my ETH
  • Non-ETH ethereum ecosystem tokens: KNC, MKR, OMG, REP, total value <10% the value of my ETH
  • Significant corporate shareholdings: Clearmatics, Starkware [edit, forgot to put this in before]
  • Revenue in the last 12 months other than ethereum foundation salary: a few advisor tokens (included in above)
  • Non-financial interests: friends in the ecosystems represented by the above projects, as well as some non-token ethereum ecosystem orgs (eg. L4, Plasma Group, Eth Global, EDCON) and non-token non-ethereum orgs (mainly professional cryptography and economics circles)

It all started with, Bob Summerville, the community leader of the Ethereum Project for over two years whose crypto holding involves,

  • 530.01 ETH(~$198K USD) was awarded to me by Wanxiang Blockchain Labs in February 2016 for “Ethereum for Resource-Constrained Devices” as $10,000 in Block GrantS #2 but I forgot about it, and managed to lose the private keys.
  • 73.09 ETH (~$27K USD) … which was $1,000 USD of John Gerryts Eth Embedded dev grant, for implementing cross-compilation.

Justin Drake, Ethereum Developer

  • 99% of token value in ETH (was given minor airdrops for free)
  • Paid by the EF in ETH
  • Leverage long ETH using ETH as collateral (MakerDAO)
  • Close to zero fiat
  • Not associated with any blockchain project other than Ethereum
  • Zero speaking fees, zero grants

Martin Sweden, Ethereum Developer

  • 95-99% of crypto holdings in ETH, rest is ZEC, BTC, SIA + some eth-tokens
  • Salary/income last 12 months: all via EF (in euro)
  • I previously also sometimes did consultancy audits, haven't done any in a long time
  • Advisor in zero projects, zero speaking fees, zero grants received, etc.


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