Token

Near Treasury

Foundation

Beacon

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  <p>In the volatile world of cryptocurrencies, the Near Foundation recently experienced a significant financial setback. As the second quarter of 2023 drew to a close, the treasury of the layer-one blockchain Near Protocol (NEAR) saw a precipitous decline, plummeting to a staggering $900 million. This substantial decrease was primarily attributed to a sharp fall in the price of NEAR tokens, which tumbled from $1.99 to a mere $1.38 apiece.</p> 
  <p>&nbsp;</p> 
  <h2 style="text-align: center;" id="the-composition-of-the-near-treasury">The Composition of the Near Treasury</h2> 
  <p>The Near Treasury’s current composition is a diverse mix of assets. It comprises $349 million in fiat currency, a hefty 315 million NEAR tokens, and an additional $90 million in loans and investments. Despite the turbulent market conditions, the second quarter saw a net total of $16 million and 1 million NEAR tokens being judiciously distributed to the burgeoning ecosystem.</p> 
  <p>In stark contrast, the Near Treasury boasted a robust total of $1.1 billion in the first quarter of 2023. The NEAR <a href="https://walletinvestor.com/magazinadmin/being-broke-having-5-5-billion-ftx-did-it/" rel="noopener noreferrer nofollow">Foundation</a> has been lauded for its responsible approach to treasury management, a strategy designed to minimize the risk of loss in an unpredictable market while continuing to deploy capital to fulfill its mission.</p> 
  <blockquote class="twitter-tweet"> 
   <p dir="ltr" lang="en">At the <a href="https://twitter.com/hashtag/NEAR?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#NEAR</a> Foundation, transparency is at our core.</p> 
   <p>Check out the Foundation’s Q2 ’23 Transparency Report below for all the details on treasury, strategy, OKRs, and more! <a href="https://t.co/EXZcmhC7sA" rel="noopener noreferrer nofollow">https://t.co/EXZcmhC7sA</a> <a href="https://t.co/twxiSffiWM" rel="noopener noreferrer nofollow">pic.twitter.com/twxiSffiWM</a></p> 
   <p>— NEAR Foundation (@NEARFoundation) <a href="https://twitter.com/NEARFoundation/status/1678488245955358727?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 10, 2023</a></p> 
  </blockquote> 
  <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
  <p>&nbsp;</p> 
  <h2 style="text-align: center;" id="a-shift-in-strategy-amidst-industry-headwinds">A Shift in Strategy Amidst Industry Headwinds</h2> 
  <p>The cryptocurrency industry is no stranger to legal challenges and regulatory scrutiny. The Near Foundation, facing industry headwinds such as the U.S. Securities and Exchange Commission’s lawsuits against prominent exchanges Binance and Coinbase, has astutely shifted its focus to three core strategies.</p> 
  <p>Firstly, the foundation is committed to enhancing its blockchain operating system, a crucial component of its infrastructure. Secondly, it continues to build its decentralized ecosystem, a testament to its commitment to the principles of blockchain. Lastly, it aims to onboard Web2 users to Web3, a move that signifies its dedication to expanding the reach of blockchain technology.</p> 
  <p>&nbsp;</p> 
  <h2 style="text-align: center;" id="the-near-ecosystem-a-beacon-of-activity">The Near Ecosystem: A Beacon of Activity</h2> 
  <p>Despite the financial setback, the Near ecosystem has been a hive of activity. Throughout the second quarter, it boasted 1.1 million monthly active accounts, a clear indication of its growing popularity. Looking ahead to the third quarter, the Near team has set its sights on fostering partnerships and supporting projects within the Near Horizon ecosystem, a move that promises to further strengthen its position in the blockchain space.</p> 
  <p>&nbsp;</p> 
  <h2 style="text-align: center;" id="a-look-back-at-near-protocol-s-ecosystem-fund">A Look Back at Near Protocol’s Ecosystem Fund</h2> 
  <p>In the final quarter of 2021, the Near Protocol made a bold move by establishing an $800 million <a href="https://near.org/blog" rel="noopener noreferrer nofollow">ecosystem</a> fund. This fund was strategically divided into decentralized finance grants, foundation grants, startup funds, and funds for regional hubs, a decision that underscores the Near Foundation’s commitment to nurturing the growth and development of the blockchain ecosystem.</p> 
  <p>In conclusion, despite the recent dip in the Near Foundation’s treasury, the organization continues to forge ahead, adopting strategic measures to navigate the turbulent waters of the cryptocurrency market.</p>
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Near Foundation Treasury Drops to $900M as Token Price Plunges

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