BitMine Acquires Third Batch of ETH from Ethereum Foundation in Week-Long Selling Spree

The Ethereum Foundation has completed its third over-the-counter transaction with BitMine within a seven-day period, offloading an additional 10,000 ETH tokens. This latest sale brings the foundation’s total liquidation to approximately $47 million worth of Ethereum over the past week, sparking renewed debate within the cryptocurrency community about the organization’s treasury management strategy. The rapid succession of these OTC transactions has raised eyebrows among stakeholders who question whether such concentrated selling activity could signal concerns about the foundation’s operational funding needs or broader strategic shifts. Critics argue that the velocity and magnitude of these disposals lack transparency, particularly given the foundation’s influential role in the Ethereum ecosystem. While the organization has historically sold ETH to cover development costs and operational expenses, the clustering of these three significant transactions within such a compressed timeframe represents an unusually aggressive liquidation pattern. The foundation has not publicly disclosed the pricing terms or strategic rationale behind consolidating these sales with a single counterparty. Market observers will be closely monitoring whether this selling activity continues and how it might impact Ethereum’s price stability in the coming weeks.

Source: CoinTelegraph | This article has been independently rewritten by Block Digest. Original reporting credit to the source.

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