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Ethereum Foundation moves $654 million in ETH

According to on-chain data from Arkham Intelligence, the Ethereum Foundation moved about $654 million worth of Ether to a wallet that’s usually used for token sales.

By Luc Vesters
• 2 min read
Ethereum Foundation moves $654 million in ETH

The Ethereum Foundation has View post on X moved about $654 million worth of Ether to a wallet that’s typically used for token sales. A transaction of this size could move the market, but so far the ETH price has remained notably stable. The community meanwhile speculates about the reasons behind the transfer.

In the past weeks the Foundation has moved smaller amounts under $10 million to fund DeFi projects and research. Some analysts suspect that part of the funds is meant to compensate long-term Ethereum developers. That suspicion ties to the departure of core developer Péter Szilágyi, who recently announced his resignation.

View post on X discusses the low pay of developers within the Foundation. According to him, he earned about $625,000 before taxes over six years, while Ethereum has since reached a $450 billion market cap. A Foundation director later apologized and admitted that many veterans “have been underpaid for the value they’ve created.”

Whether the recent ETH transfer is actually tied to internal compensation remains unclear. The Foundation has not publicly commented on the purpose or destination of the funds. If it is a planned sale, it could put pressure on the market in the short term, especially given the recent volatility and declining trading volume in DeFi.

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