VeChain Foundation reports $1.2B crypto treasury but spent just $4M in Q1
-The VeChain Foundation has released its financial report for Q1 2022 showing that the project amassed an impressive $1.2 billion war chest but only spent about $4.1 million in the quarter.
-Of the $4.1 million outlaid in the first quarter the Foundation spent $1.8 million on ecosystem business development, which was the highest expense.
-The VeChainThor blockchain collects fees for transactions that are distributed between validators and other stakeholders in the ecosystem. However, data on the total amount of fees accrued is not clear from the financial report.
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