Ethereum (ETH) Foundation Announces New Move of 70,000 ETH! First Transaction Completed!

As Ethereum co-founder Vitalik Buterin continues selling ETH, the Ethereum Foundation has begun staking a portion of its ETH treasury.

Buterin has sold 10,723 ETH for $21.7 million since February 2nd, according to on-chain data.

The Ethereum Foundation announced today that it has begun staking a portion of its ETH treasury, starting with an investment of 2,016 ETH.

The Ethereum Foundation stated that it plans to stake approximately 70,000 ETH in total, and all staking rewards will be transferred back to the Ethereum Foundation treasury.

This step is consistent with the treasury policy announced by the foundation last year, which envisages actively using treasury assets rather than simply holding them.

“In line with its Treasury Policy announced last year, the Ethereum Foundation has begun staking a portion of its treasury.”

Today, EF made an investment of 2016 ETH. Approximately 70,000 ETH will be staked, and the rewards will be transferred back to the EF treasury.

The staking process began with a 2,016 ETH investment using the open-source validator tools Dirk and Vouch, developed by the infrastructure company Attestant.

According to the foundation’s statement, the purpose of its treasury is to support Ethereum’s long-term sustainability and its core mission of ensuring that applications operate seamlessly, without censorship, fraud, or third-party interference.

*This is not investment advice.

Continue Reading: Ethereum (ETH) Foundation Announces New Move of 70,000 ETH! First Transaction Completed!