The Ethereum Foundation has sold 10,000 ETH to BitMine in an over-the-counter transaction valued at approximately $24 million. This sale, conducted at an average price of $2,387 per ETH, is part of the foundation's ongoing treasury strategy, which previously saw a similar transaction in March. The foundation retains over 92,000 ETH, valued at around $214 million, and continues to manage its treasury actively, including staking some of its holdings.
This transaction highlights the foundation's approach to maintaining operational capital without significantly impacting the market. The sale was confirmed by the foundation and involved a specific EF Safe multisig wallet, enhancing transparency. Additionally, the foundation remains committed to security efforts, recently supporting an investigation that uncovered vulnerabilities and fraudulent activities in the crypto space.
Ethereum Foundation Sells 10,000 ETH to BitMine for $24 Million
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