The Ethereum Foundation has sold 5,000 ETH at $2,042.96 each to BitMNR OTC, raising $10.21 million to support its operational and activity funding. Despite this sale, the Foundation still holds 169,863 ETH on-chain, valued at approximately $354 million.
Earlier this year, Aave founder Stani Kulechov suggested the Foundation address financial issues by reducing spending, cutting staff, and ensuring 80% of employees are technical personnel. The Foundation’s strategy of selling ETH to fund operations has faced increasing scrutiny.
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