According to the announcement of Strategic ETH Reserve on the X platform, Argot Collective has launched the Ethereum Strategic Reserve and currently holds 2,474 ETH. Argot Collective is currently a non-profit, independent entity responsible for building and maintaining the core language and tools for running Ethereum applications.
According to on-chain data analyst Ember, Argot Collective, a non-profit development organization that received 7,000 ETH working funds from the Ethereum Foundation, sold another 1,210 ETH for 4.09 million USDC four hours ago. Since they started selling ETH for stablecoins on July 11, they have exchanged 3,626.6 ETH for 11.2 million USDC, with an average selling price of $3,089.
Hsiao-Wei Wang, co-executive director of the Ethereum Foundation (EF), said in a statement that the address that sold 1,210 ETH this morning did not belong to EF, but to Argot Collective, a non-profit development organization that was previously spun off from EF.
The Ethereum Foundation today announced that it will provide three years of working capital support to Argot Collective, an Ethereum tool development team, to advance its continued contributions to Solidity language development and other critical open-source infrastructure. Argot Collective was founded by former members of the Ethereum Foundation and focuses on the maintenance and optimization of Ethereum's core tools.