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Ethereum Foundation Denies $12.8M Sale From Old ICO-Era Wallets
In a recent statement, the Ethereum Foundation has denied any involvement in a staggering $12.8 million Ethereum (ETH) sale linked to old ICO-era wallets. This move comes as ETH’s price surges past $4,600, with analysts predicting a potential surge of up to $5,241.
The denial stems from an initial report suggesting that the Ethereum Foundation had conducted a massive ETH transaction involving an address tied to its early allocations. On-chain data revealed two transactions totaling 2,975 ETH, sparking speculation about Foundation-led sales. However, Hsiao-Wei Wang, co-Executive Director at the Ethereum Foundation, quickly cleared up any confusion by confirming that the wallet in question is no longer under the organization’s control.
The Ethereum Foundation initially held approximately 9% of ETH supply following its involvement in the 2014 ICO. Over time, it has reduced its stake through planned transactions. The organization now holds less than 0.3 percent of the total ETH supply.
In a broader context, this clarification serves as a reminder that corporate entities have been increasingly acquiring significant Ethereum holdings. Public companies collectively hold more than $14 billion in Ethereum reserves, marking a notable shift in ETH distribution.
Source: coincentral.com
