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VeChain Treasury Holds $1.2 Billion in Crypto

The VeChain Foundation will recruit 1000 technical staff in Ireland. The aim is to expand the project in Europe.

The VeChain Foundation has $1.2 billion in cryptocurrencies in its treasury. In 2021, this value was 1.38 billion dollars.

Expenses Overshadowed by the Treasury Fund

Compared to last year, this decrease is due to market fluctuations and VeChain Foundation spending.

It spent $4.1 billion in the first quarter. $1.8 million was spent on partnerships, custodians, wallet providers, brokers, community events and ecosystem project collaboration. In addition, $1.1 million was spent on ecosystem operations.

The company did not share the fees associated with the transaction fees distributed among the validators and other stakeholders.

Business Development

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VeChain

VeChain continues to expand its blockchain-based carbon management services for countries.

The company has announced a partnership with Amazon Web Service (AWS) to build the VeCarbon emissions management software (SaaS) system to serve China’s carbon neutrality goal by 2060.

Previously, the Foundation launched VeUSD, the first stablecoin developed by Stably and issued by Nevada-based company Prime Trust.

RELATED : 97% of Crypto Hacks Were Against DeFi Projects

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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