Ah, the whispers of a $12.8 million Ethereum bonanza! The Ethereum Foundation, in a fit of indignation, has waved its hands and declared, “Not us!” as if they were shooing away a pesky fly. The wallet in question, they insist, has long since slipped from their grasp, like a bar of soap in a shower of intrigue. 🧼
But let us pause for a moment, dear reader, and don our detective hats. 🕵️♂️
The speculation ignited when the ever-watchful on-chain tracker, LookOnChain, reported that a wallet, once linked to the Foundation, had sold a staggering 2,975 ETH in two swift transactions. The sales, valued at a jaw-dropping $12.8 million, caught the eye of the crypto community, especially since this wallet had previously received a princely sum of 20,756 ETH from a Foundation address back in the halcyon days of 2017.
A wallet (0xF39d) linked to the #EthereumFoundation sold 1,695 $ETH for 7.72M $DAI at $4,556 in the past 2 hours.
This wallet originally received 20,756 $ETH ($95.5M now) from the #EthereumFoundation wallet “EF 1” back in 2017.
– Lookonchain (@lookonchain) August 13, 2025
Understandably, this stirred the pot of speculation, causing the crypto community to chatter like a flock of caffeinated squirrels. But what, pray tell, is the truth? 🤔
“Not Our Operation”
In a swift response, Ethereum Foundation co-Executive Director Hsiao-Wei Wang took to X, like a knight in shining armor, to quell the rising tide of rumors.
“It was not the Ethereum Foundation’s operation,” she proclaimed, as if reciting a sacred incantation. Wang further elaborated that during Ethereum’s 2014 ICO, the Foundation held a robust 9% of the total ETH supply. Today, however, that figure has dwindled to a mere 0.3%. Talk about a diet! 🍽️
She also pointed out that many ancient addresses from the ICO era still linger in the digital ether, but alas, they are no longer under the Foundation’s watchful eye. “You can probably find tons of addresses linked to EF after ten years,” she quipped, as if inviting us to a treasure hunt.
A Familiar Pattern for EF Watchers
Yet, the denial did not wash over everyone like a refreshing summer rain. Some skeptics in the community raised their eyebrows, arguing that the Foundation’s history of large ETH sales casts a long shadow of suspicion over any significant movement from EF-linked wallets.
that is in part due to the enormous inflation of eth tokens since the ico. Also shows how much dumping the foundation has done and continues to do
– Coins Of Fortune (@ItemWoods) August 13, 2025
For years, the Foundation has been selling off portions of its ETH holdings, igniting debates about timing, market impact, and the ever-elusive concept of transparency. It’s like watching a magician pull rabbits out of hats-only the rabbits are worth millions! 🐇💰
Is this what belief looks like?
In the past few months, the Ethereum Foundation has dumped 25,833 $ETH – nearly $100 million.
Follow actions, not words.
– Maartunn (@JA_Maartun) July 29, 2025
Ethereum Moves Into Corporate Vaults
The timing of this little kerfuffle is rather intriguing. In July, the Foundation sold around 10,000 ETH directly to the publicly traded company SharpLink Gaming, which has now ascended to the rank of the second-largest corporate ETH holder. Who knew gaming could be so lucrative? 🎮
This sale is merely a drop in the bucket of a larger trend. If you’ve been keeping your ear to the ground, you’ll know that corporate ETH treasuries now hover around a staggering $14 billion. More and more of Ethereum’s precious supply is slipping into the hands of public companies, shifting the balance of power like a game of musical chairs.
Leading this corporate charge is BitMine Immersion, now the largest corporate Ethereum holder with nearly $5 billion in ETH and an ambitious goal to control and stake 5% of the total Ether supply, worth about $22 billion at today’s prices. Talk about a power move! 💪
Vitalik’s Warning
Ethereum co-founder Vitalik Buterin has raised a cautionary flag regarding this trend, likening it to a double-edged sword. ⚔️
On one hand, corporate ownership could usher Ethereum into the arms of mainstream investors. On the other, overleveraging by these companies could trigger a domino effect of forced sell-offs during market downturns, adding a delightful layer of volatility and shaking confidence in the network. What a delightful conundrum!
ETH Nears Record
Meanwhile, ETH is trading at a tantalizing $4,748-up about 27% over the last week and tantalizingly close to its all-time high. Standard Chartered, with a twinkle in their eye, predicts the rally will continue, projecting $7,500 by the end of 2025 and a staggering $25,000 by 2028. If only we could all predict the future with such confidence! 🔮
Whether the latest wallet sale came from EF or not, it serves as a reminder that the crypto community is always watching, and no activity will go unnoticed! So, keep your eyes peeled, dear reader, for the next twist in this digital saga!
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2025-08-14 13:58