Ethereum Foundation Sells 5,000 ETH In a $10 Million Deal

The Ethereum Foundation finalized the sale of 5,000 ETH to BitMiner through an over-the-counter transaction, raising $10.21 million (based on an average price of $2,042.96). This sale aims to fund the Foundation’s core operations, including protocol research and development. However, the choice of BitMiner as the buyer has drawn scrutiny, as the firm is already the largest corporate holder of Ethereum, controlling over 4.47 million tokens and aiming for 5% of the total supply. This concentration of assets clashes with the Foundation’s historical emphasis on decentralization. The Foundation, now holding just over 200,000 ETH, has shifted from a policy of keeping assets idle to actively staking tokens and releasing a new governance manifesto focused on decentralization and open-source principles, coinciding with recent leadership changes within the organization.

(Source：BeInCrypto)