VeChain Foundation Q2 Financial Report: The originally held $1.2 billion worth of cryptocurrency assets has shrunk by 44%

Chain Catcher News, VeChain Foundation released the Q2 2022 financial report, reporting that VeChain currently holds $535 million in BTC, ETH, VET, and stablecoin reserves, with a total reserve asset value that has decreased by 44% compared to Q1. Currently, the total value of stablecoins held by VeChain is $60,404,839.

VeChain attributes the asset shrinkage to the global cryptocurrency market crash. Nevertheless, VeChain has incurred $10,172,437.49 in capital expenditures in areas such as public relations and marketing, legal consulting services, technical operations, and sustainable development projects. (Source link)