Ethereum Foundation Moves Cryptocurrency to Kraken for Treasury Management

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Reasons for the Transfer
  2. Community Reaction
  3. Future Plans


    4. Ethereum Foundation (EF) Executive Director Aya Miyaguchi clarified the move amid widespread speculation.

    Reasons for the Transfer

    Miyaguchi explained that the transfer was part of routine treasury management activities necessary to fund the foundation's annual budget. According to her, this transaction is not tantamount to a sale. The foundation operates on an annual budget of around $100 million, largely spent on grants and salaries. Given that some recipients can only accept payments in fiat currency, some of the foundation’s assets must be converted.

    Community Reaction

    Earlier this year, regulatory uncertainties delayed key treasury activities, preventing EF from acting sooner or sharing plans in advance. However, despite Miyaguchi's explanations, the community has experienced discussions. A report from analytics firm Arkham, which first reported on the massive transfer, suggested that EF might be liquidating funds to cover operational costs, sparking contradictions.

    Future Plans

    Miyaguchi assured that future sales would be planned and executed gradually to avoid similar community unrest. This caused a kind of reassurance among the community members; however, they will keep an eye on the foundation's future actions.

    Thus, the transfer of 35,000 ETH to Kraken is part of the planned asset management by the Ethereum Foundation, aimed at ensuring timely funding of the foundation's budget. Aya Miyaguchi's explanations are intended to dispel speculation about possible asset sales.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Circle Reports Significant Growth in USDC Onchain Transaction Volume

Circle reports a 49% year-over-year increase in USDC onchain transaction volume for Q3 2026, reaching 139 trillion.

user avatarMaria Gutierrez

Cipher Digital Advances Colchis Project with Conditional Baseload Classification

Cipher Digital reports conditional baseload classification for its 1-gigawatt Colchis project and is developing pipelines for future expansion.

user avatarAndrew Smith

Cipher Digital Achieves First HPC Lease Revenue and Extends Barber Lake Lease

Cipher Digital has recognized its first HPC lease revenue in Q3 2026 and extended its Barber Lake lease to 20 years, increasing contracted revenue to $91 billion.

user avatarJacob Williams

Core Scientific's Transition to AI Infrastructure Shows Promising Financial Metrics

Core Scientific's financial results reveal a significant shift in its business model, focusing on AI compute demand rather than Bitcoin mining profitability.

user avatarSon Min-ho

Core Scientific Reports Significant Growth in Colocation Revenue

Core Scientific has reported a substantial increase in colocation revenue, marking a shift from Bitcoin mining to AI infrastructure.

user avatarZainab Kamara

Hut 8 Reports Significant Energy Capacity Developments

Hut 8 reported substantial energy capacity developments, including 1,330 MW under construction and 3,180 MW entering exclusivity.

user avatarAyman Ben Youssef

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.