Ethereum Foundation made another ETH sale, swapping 100 ETH for DAI. This is the first transaction since the foundation's annual report release.
Ethereum Foundation's DAI Purchase
On November 12, the Ethereum Foundation sold 100 ETH, exchanging them for 334,315.7 DAI. This was the first sale since the annual report release on November 8. The sale follows a similar transaction on October 30, where 100 ETH were exchanged for 270,800 DAI.
Ethereum Foundation's Financial Reserves
The 2024 annual report reveals Ethereum Foundation's reserves stand at $970.2 million, with $788.7 million stored in crypto, mostly in ETH. The foundation currently holds 272,330 ETH and 168,458 DAI.
Vitalik Buterin's Comments
Ethereum's co-founder Vitalik Buterin explained the foundation sells ETH periodically to fund public projects and maintain reserves. In 2024, the foundation sold a total of 4,266 ETH worth $11.83 million. Buterin also sold MOODENG tokens, directing proceeds to his biotech fund Kanro.
The Ethereum Foundation's activity in selling ETH underscores their strategy in asset management to ensure project support and philanthropic endeavors.
