Ethereum Foundation moves $654 million in ETH amid online scrutiny of group’s transfers

The Ethereum Foundation transferred 160,000 ETH, valued at approximately $654 million, to a wallet historically used for selling Ethereum, according to Arkham Intelligence. The foundation's co-Executive Director, Hsiao-Wei Wang, clarified that the move was part of a scheduled wallet migration. This transfer occurred while the non-profit organization was facing increased online scrutiny, largely stemming from recent comments by former Geth lead developer Péter Szilágyi. Szilágyi recirculated a letter claiming that success in Ethereum projects depended heavily on relationships with the inner circle, including Vitalik Buterin, and criticized his own compensation over six years as only about $625,000. The foundation has recently undergone restructuring, including developer layoffs and plans for managing its remaining ETH reserves.

(Source：The Block)