Ah, the Ethereum Foundation! A noble organization, akin to a benevolent czar, has decided to dip its toes into the murky waters of decentralized finance. With a flourish, they have established a multisig wallet, as if to say, “Look at us, we are part of the cool kids’ club now!” 🤑
In a post that fluttered through the digital ether, hww.eth, that ever-so-eloquent bard of the blockchain, proclaimed the birth of this new multisig wallet. It is a 3-of-5 multisig, managed by the on-chain asset custody provider Safe, formerly known as Safe Gnosis. Quite the name change, isn’t it? One can only wonder what prompted such a rebranding! 🤔
Ethereum Foundation Treasury Update
The Ethereum Foundation (@ethereumfndn) has set up a new @safe 3-of-5 multisig wallet.
The wallet address is 0x9fC3dc011b461664c835F2527fffb1169b3C213e
An op has been initiated to send 50,000 ETH there, but be patient; due to signing delays, …
— hww.eth (@icebearhww) January 20, 2025
And lo! The Ethereum Foundation has embarked on a grand experiment, transferring a staggering 50,000 ETH to this wallet, as if they were sending a child off to school with a shiny new lunchbox. The test transfer is now live through the DeFi protocol Aave, with plans to sprinkle more funds into this digital treasure chest. How delightful! 🎉
But wait! The plot thickens! This announcement comes on the heels of Vitalik Buterin’s musings about exploring new staking options. One can almost hear the gasps of the ETH holders, clutching their pearls as they witness the foundation’s continued offloading of ETH holdings. “Oh, the horror!” they cry, as the price of Ethereum remains shackled by Bitcoin‘s meteoric rise to a new all-time high above $109k. 📉
Critics have emerged from the shadows, suggesting that the Ethereum Foundation could earn from its ETH holdings to cover cash needs, all while supporting Ethereum’s growth and security. A noble thought, indeed! But alas, Buterin has shared that the foundation has been hesitant to stake due to regulatory concerns and the fear of choosing sides in the event of a network hard fork. Such is the life of a blockchain czar! 🥴
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2025-01-20 23:30