The Ethereum Foundation Sends 20,000 ETH ($95 Million) to Crypto Firm “Kraken”


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According to Etherscan, the Ethereum Foundation has again sent tens of thousands of Ethereum to cryptocurrency exchange Kraken.

Etherscan recorded the transaction hours ago, exactly yesterday at 2:56 pm UTC.

The transaction shows that the Ethereum Foundation sent a contract worth 20,000 ETH to the public address of Kraken.

Which equals roughly $95 million at today’s prices.

A similar transaction took place on May 17, when the Ethereum Foundation sent 35,000 ETH to the exchange.

It was worth $112 million at the time.

It is worth noting that the Ethereum Foundation is a non-profit organization that supports Ethereum and its developers.

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As the Ethereum Foundation provides both financial and non-financial support to the broader ecosystem, they have sold Ethereum in the past to provide financial support.

According to blockchain analyst Colin Wu, the institution owns approximately 400,000 ETH as of May 21.

Ethereum has made several gains recently and is currently trading above $4,700, even the CEO of Citadel considers it better than Bitcoin.

Read also:

“Chainlink” co-founder: I expect the momentum to return to DeFi, this time through banks

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