Near Foundation treasury drops to $900M as token price plunges
The $200 million decline was mostly due to a drop in the price of Near tokens, in line with the crypto bear market. At the end of Q2 2023, layer-one blockchain Near Protocol's (NEAR) treasury had declined to $900 million, led by a fall in the price of NEAR tokens from $1.99 to $1.38 apiece. At the #NEAR Foundation, transparency is at our core. Check out the Foundation's Q2 '23 Transparency Report below for all the details on treasury , strategy, OKRs, and more! https://t.co/EXZcmhC7sA pic.twitter.com/twxiSffiWM — NEAR Foundation (@NEARFoundation) July 10, 2023 According to the July 10 report, the Near Treasury currently consists of $349 million in fiat, 315 million NEAR, and $90 million in loans and investments. A net total of $16 million and 1 million NEAR were distributed to the ecosystem in Q2. In comparison, the Near Treasury totaled $1.1 billion in Q1 2023. Developers wrote: "The NEAR Foundation has continued to adopt a highly responsible approach to treasur...