Big news for $ETH : Ethereum Foundation completes $10.38M🤯 OTC sale.

The Ethereum Foundation has completed an over-the-counter sale transaction involving 5,000 ETH, valued at approximately $10.38 million, at an average price of $2,042.96. The buyer in this deal was Bitmine, and the sale was conducted via OTC, meaning it was executed privately rather than on the open market.

Shortly after the transaction, #Ethereum Foundation publicly confirmed the details in a post. According to the announcement, the OTC counterparty for the sale was #Bitmine، , and the funds from this transaction will be used to support the Foundation's core operations and activities, including protocol research and development, ecosystem growth, and community grant funding.

The Foundation also noted that the on-chain transaction will originate from the EF Safe multi-signature wallet, specifically:
0x9fC3dc011b461664c835F2527ffbb1169b3C213e.

Additionally, the organization announced that the sale falls within its ongoing treasury management strategy, which aligns with previously published treasury policies. By using OTC deals instead of exchange sales, the Foundation can raise funds without creating immediate selling pressure on the market.

Our takeaway: Overall, this move demonstrates how the Ethereum Foundation manages its treasury while continuing to fund #ETH$ETH development and ecosystem initiatives.$BTC $GT #GateAIGateClawOfficiallyLaunches #BitcoinSurgesAbove$70K