The supply chain tracking project has a comfortable cushion in its Foundation treasury, but expenditures were very low through the first quarter of 2022.
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.VeChain (VET) is a blockchain project designed to enhance supply chain management.. The Foundation’s May 10 financial report for Q1 2022 outlines its balance sheet as of March 31 and how it spent funds through the quarter. Although the treasury opened the year with $1.37 billion in assets between stablecoins, Bitcoin (BTC), Ether (ETH), and VET, it ended with $1.2 billion. The report states that most of the losses were incurred “due to crypto market fluctuations and other VeChain Foundation outgoings.”The BTC price has fallen 34% since, ETH has fallen 36%, and VET has fallen 54% sinc
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