"Ethereum Foundation Sells Some ETH…Withdraws 4.7 billion won Worth of Stablecoins from Kraken"
Summary
- The Ethereum Foundation recently withdrew about 4.7 billion won worth of DAI from Kraken as part of its ETH sales.
- The Ethereum Foundation said it will carry out $430 million (about 600 billion won) worth of Ether sales through centralized exchanges in a split manner.
- The proceeds will be used to support the ecosystem, including research and development (R&D), grants, and donations.
The Ethereum Foundation was observed to have withdrawn 4.7 billion won worth of the stablecoin Dai (DAI) as part of its ongoing sales of Ether (ETH).
On the 5th, Amber CN reported via X (formerly Twitter) that "the Ethereum Foundation sold part of the 10,000 ETH it deposited to Kraken the previous day and withdrew about 3,380,000 DAI (about 4.7 billion won) from Kraken."
Meanwhile, the Ethereum Foundation has announced it will sell approximately $430 million (about 600 billion won) worth of Ether. The foundation earlier stated on the 2nd via its official channels that "the sales will be conducted in multiple tranches over several weeks through centralized exchanges." The foundation plans to use the proceeds to support the ecosystem, including research and development (R&D), grants, and donations.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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