From the video, Tom Lee responded to Vitalik's previous post about the Ethereum Foundation focusing on core CROPS, stating: The Ethereum DAT Treasury Company, including Bitmine and Sharpnink, now owns 7% of the Ethereum supply... Treasury stocks are essentially a supply permanently removed from the ecosystem, but we also have profits. The revenue is about 3%, so now these public treasuries are generating about $500 million in rewards, which is what we can use to fund and fund the crypto ecosystem. ” Simply put, the Ethereum ecosystem no longer relies solely on foundations for funding. Now, these DAT treasury companies can provide funds to support projects, developers, and infrastructure. Main points: 1. DAT Treasury has already hoarded a lot of ETH from listed companies such as Bitmine (Tom Lee) and SharpLink, and now holds a total of about 7% of Ethereum on the entire network. These companies hold ETH as a 'corporate treasury' for the long term. They earn a lot every year by staking. Staking ETH onto the Ethereum network to help maintain security can earn about 3% of annual profits. Currently, these companies combined can receive approximately $500 million in Ethereum rewards annually. Tom Lee believes that not all of this money should be kept, and a portion can be used to support the Ethereum ecosystem (such as issuing grants, supporting projects, developers, L2, etc.). Previously, the Ethereum Foundation (EF) was the main source of funding, but now these "DAT vaults" can also be funded by themselves. Tom Lee believes that the Ethereum Foundation's decision to narrow down its focus to the most core things (CROPS: censorship resistance, openness, privacy, security) is the right one. Because Ethereum is already very large now: • Market value of approximately 240 billion US dollars Operating for 11 years with zero downtime 89 countries and 11500 nodes worldwide 15000 developers A foundation cannot manage it, and in the future, more things will have to be done by private companies. Because this represents the evolution of the funding model of the Ethereum ecosystem: from "relying on the foundation's treasury" to "relying on market-oriented large holders to make money and give back". This is what should be done to achieve a positive cycle.