Big News for $ETH : Ethereum Foundation Completes $10.38M OTC Sale🤯.

The Ethereum Foundation has finalized an over-the-counter transaction involving 5,000 ETH, worth approximately $10.38 million, at an average price of $2,042.96. The buyer in this deal was Bitmine, and the sale took place via OTC, meaning it was executed privately rather than through the open market.
Shortly after the transaction, the #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 multisig wallet, specifically:
0x9fC3dc011b461664c835F2527ffbb1169b3C213e.
Additionally, the organization stated that the sale is part of its ongoing treasury management strategy, which aligns with its 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.
CONCLUSION FROM OUR SIDE: Overall, the move highlights how the Ethereum Foundation manages its treasury while continuing to fund development and ecosystem initiatives for #ETH .