Polkadot’s $37 Million ‘Outreach’ Offers Rare Look at Crypto Spending Priorities

In this edition of the Bloomberg Crypto newsletter, Muyao Shen wonders what Polkadot got in return for all that ‘outreach’ spending.

You might think that questions about preserving a startup’s treasury will arise only in a bear market. However, the concern is relevant even now, as highlighted by Polkadot, a blockchain project co-founded by Gavin Wood, who also co-founded Ethereum. Last week, a contributor to the project named alice_und_bob published a report on Polkadot’s treasury for the first six months of 2024. The conclusion? Polkadot only has two years of runway if it continues its current rate of spending.