Ethereum Foundation’s 10,000 ETH sale sparks debate over funding methods
The post Ethereum Foundation’s 10,000 ETH sale sparks debate over funding methods appeared on BitcoinEthereumNews.com. The Ethereum Foundation has ignited a heated discussion within the crypto community after announcing its intention to sell approximately 10,000 ETH through centralized exchanges. On Sept. 2, the Ethereum Foundation issued a transparency notice outlining its plan to convert 10,000 ETH over several weeks. The foundation stated that proceeds from these sales would support critical research and development initiatives, grant programs, and charitable donations. To minimize market impact, the organization emphasized that conversions would occur through multiple smaller transactions rather than a single large order. Earlier today, blockchain analytics firm Lookonchain confirmed that the Ethereum Foundation has already initiated the selling process. The firm reported that the foundation deposited 10,000 ETH, valued at $42.7 million at the time of transfer, into the Kraken exchange. Despite this substantial movement, the foundation’s public wallets retain approximately 224,800 ETH worth roughly $1.05 billion. Mixed reaction trails move Various community members have criticized the decision to sell ETH directly, arguing that alternative funding mechanisms exist within the Ethereum ecosystem. The Crypto Investor Blueprint: A 5-Day Course On Bagholding, Insider Front-Runs, and Missing Alpha Nice
The post Ethereum Foundation’s 10,000 ETH sale sparks debate over funding methods appeared on BitcoinEthereumNews.com.
The Ethereum Foundation has ignited a heated discussion within the crypto community after announcing its intention to sell approximately 10,000 ETH through centralized exchanges. On Sept. 2, the Ethereum Foundation issued a transparency notice outlining its plan to convert 10,000 ETH over several weeks. The foundation stated that proceeds from these sales would support critical research and development initiatives, grant programs, and charitable donations. To minimize market impact, the organization emphasized that conversions would occur through multiple smaller transactions rather than a single large order. Earlier today, blockchain analytics firm Lookonchain confirmed that the Ethereum Foundation has already initiated the selling process. The firm reported that the foundation deposited 10,000 ETH, valued at $42.7 million at the time of transfer, into the Kraken exchange. Despite this substantial movement, the foundation’s public wallets retain approximately 224,800 ETH worth roughly $1.05 billion. Mixed reaction trails move Various community members have criticized the decision to sell ETH directly, arguing that alternative funding mechanisms exist within the Ethereum ecosystem. The Crypto Investor Blueprint: A 5-Day Course On Bagholding, Insider Front-Runs, and Missing Alpha Nice
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