The Ethereum Foundation plans to commit 50,000 ETH
This allocation represents 18.5% of the foundation’s total holdings and aims to provide better tools and resources for those building applications on the Ethereum platform.
Vitalik Buterin, Ethereum’s co-founder, announced the initiative on X on January 18, stating that the foundation plans to take a more active role in supporting developers and improving transparency for the community.
Did you know?
Subscribe - We publish new crypto explainer videos every week!
What is a Perpetual Contract in Crypto? (Definition + Example)
To ensure security, the funds will be managed through a three-of-five multi-signature wallet on Safe. A test transaction using these funds was successfully carried out on the lending platform Aave
However, Hsiao-Wei Wang, a foundation representative, stated in a January 20 post on X that setting up the wallet fully may take a few days.
Some community members have linked Ethereum’s recent price struggles, especially compared to Bitcoin
Buterin addressed these concerns, clarifying that the foundation’s approach is not about lobbying or shifting its core values. He stressed the importance of maintaining a neutral stance while focusing on adding value through development and support.
This approach has earned praise from CryptoQuant CEO Ki Young Ju, who commended the foundation for prioritizing meaningful contributions over chasing short-term profits.
Meanwhile, the Ethereum community recently called on the Ethereum Foundation to consider staking ETH to fund its operations. What did they say? Read the full story.
