Ethereum Foundation denies $12.8m sale tied to old ICO wallets
The post Ethereum Foundation denies $12.8m sale tied to old ICO wallets appeared on BitcoinEthereumNews.com.
Recent portfolio shuffles and asset dumps pointed to its old habits, but the foundation has officially denied involvement in the sales. Summary The Ethereum Foundation has denied selling 2,975 ETH from an ICO-era wallet. Co-executive director says the wallet is no longer under Foundation control despite past connections. Corporate ETH treasuries have surged past $14B, concentrating supply in public company hands. In a recent X post, Ethereum Foundation co-Executive Director Hsiao-Wei Wang debunked claims that the foundation was behind a recent $12.8 million ETH (ETH) sell-off. “It was not the Ethereum Foundation’s operation,” she wrote. Wang’s disclaimer came after on-chain trackers spotlighted movements on a wallet associated with the foundation, which had sold a total of 2,975 ETH in a two-part transaction. It was not the Ethereum Foundation’s operation. Fun fact: Back in the 2014 ICO, ~9% of the ETH supply was allocated to the EF; now EF holds under 0.3% of the total supply. So you can probably find tons of addresses linked to EF after ten years. https://t.co/g0UMwtO4Le — hww.eth | Hsiao-Wei Wang (@hwwonx) August 13, 2025 The wallet was reported to have originally received ETH in 2017 from another Foundation-associated address, pointing to a likely connection with ICO-era allocations. Clarifying the mix-up, the director noted that the wallet in question is no longer operated by the Foundation. She explained that while around 9% of the total ETH supply was allocated to the foundation back during the 2014 ICO, it has significantly trimmed its holdings over time. Now, less than 0.3 % of the ETH supply is actually held across Foundation‑controlled addresses. This means that several addresses from that period remain in circulation, but do not represent Foundation funds. The team’s history of ETH dumps made the latest sell-off all the more notable, as it fit into its broader…
Filed under: News - @ August 14, 2025 8:18 am