Ethereum Foundation: Transfer 654 million USD ETH is an established wallet migration plan
2025-10-21 23:03:17
The Ethereum Foundation transferred about 160,000 ETH (about $654 million) into a set of wallets that had been used to sell ETH. Arkham Intelligence noted that the wallet had only made large transfers in the past to Kraken, SharpLink Gaming, and a multi-signature address that sold ETH. Foundation co-executive director Hsiao-Wei Wang responded on social media that the transfer was part of an established wallet migration plan.
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