You do not easily separate from your bitcoins or its ethers when you are a whale. Each movement is scrutinized, each transaction dissected by the Crypto community. And even less when called Ethereum Foundation, the organization at the heart of the second world blockchain network. This week, she announced that she wanted to sell 10,000 ETH, or nearly $ 43 million, via centralized platforms. A decision that fuels debates as much as accounting balance sheets.
In short
- Ethereum Foundation sells 10,000 ETH to finance research, donations and subsidies.
- The sale is made via centralized platforms, in several fractional orders to limit the impact.
- The Crypto community criticizes this choice, preferring the use of protocols DEFI like Aave.
- The Foundation retains around 224,800 ETH in cash, equivalent to more than a billion dollars.
Ethereum Foundation: a cash flow
Ethereum Foundation, to whom Sharplink bought 10,000 ETH last July, confirmed on X his intention to convert his Ethers into several small transactions. The organization justifies this strategy by the need to finance its research programs, its gifts and subsidies. According to its reports, the Foundation still holds around 224,800 ETH, valued at more than a billion dollars.
This announcement did not fail to react the crypto-sphere. The co -founder of Gnusis, Martin Koppelmann, to directly arrested the EF By declaring:
Curious. What is missing from Dex to do this operation on Dex?
Does the remark illustrates a deep frustration: why does an organization that campaign for decentralized finance choose a centralized crypto exchange (CEX) to liquidate its assets?
The answer could hold in a word: efficiency. By splitting up its sales, the EF limits the risks of price shout and reduces operational exposure. But this pragmatism has a price: that of the image, because it feeds the suspicion of ideological betrayal.
The anger of the builders: when Defi feels betrayed
The Crypto community was quick to react. Marc Zeller, founder of Aavechan, summed up his disagreement with a lapidary formula: “ Just use Aave ». For him and many others, it is incomprehensible that the foundation does not exploit the protocols of defi that it helps to grow.
A former Meta engineer, Josiah Gulden, went even further. “” There are better ways to obtain liquidity than to sell massively on the market “He said
Sell rather than borrowing does not really inspire confidence in the vision of the EF for ETH as a cash i.e.
These criticisms recall that, in the crypto universe, each technical decision becomes a philosophical question. The EF acts as a classic institution that secures its Fiat income. Its detractors see it as a contradiction with the initial promise of Ethereum: to release the finance of the intermediaries.
Ethereum: assumed transparency or ideological compromise?
Despite criticism, some highlight a positive point: the foundation plays the transparency card. Unlike other organizations, it has announced its sale before execution. A collaborator of the Foundation, Binji, wanted to put the range of the sale into perspective. According to him, the 10,000 ETH has passed little in the face of the overall market activity. He recalls that, during the same week, cash companies bought around 403,800 ETH.
These figures replace the debate across a market that brews billions every day. But beyond the size of the order, it is the fragile balance between ideology and pragmatic management that attracts the spotlight.
The question is not so much to know if 10,000 ETH will make prices move, but if the foundation betrays its own mission.
Some quantified benchmarks
- $ 43.6 million: estimated value for the sale of ETH. ;
- 224,800 ETH: balance remaining in the cash flow of the foundation;
- 15 %: Operational expenditure ceiling set by the new policy;
- 2.5 years: Liquidity reserve duration provided for by the EF;
These measures reflect a desire for financial discipline. But they also feed the perception that the foundation works on a wire: the one that separates the need for stability from the requirement of ideological coherence.
This sale of 10,000 ETH is not a first for Ethereum Foundation. Already in July, she had given up a similar amount to Sharplink Gaming, a side actor. And more broadly, she is used to unlocking important sums to anticipate the major challenges to come. Recently, she even mobilized several million to prepare for the post-quantic era, proof that her vision remains towards the sustainability of her ecosystem. Behind each sale hides the same equation: how to combine cash, ideals and future of Ethereum?
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