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The Ethereum Foundation Sends 20 000 ETH ($95M) to Kraken

According to Etherscan, the Ethereum Foundation has once again sent tens of thousands of Ether to Kraken.

  • Etherscan recorded the transaction only hours ago at 2:56 PM UTC
  • The transaction shows an Ethereum dev sending a contract of 20 000 Ether to Kraken’s public address. That’s worth over $95 million at today’s prices.
  • A similar transaction took place on May 17th, when another developer sent 35 000 Ether to the exchange. Those were worth $112 million at the time.
  • The Ethereum Foundation is a non-profit organization that supports Ethereum and its developers. They provide both financial and non-financial support to the broader ecosystem and have sold Ether in the past to provide it.
  • According to blockchain analyst Colin Wu, the Foundation owned nearly 400 000 Ether as of May 21st.
  • Ethereum has broken numerous highs as of late and currently trades above $4 700. Citadel’s CEO even considers it superior to Bitcoin.
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Genesis Could File for Bankruptcy This Week: Report

Genesis Global Capital is preparing to finally file for bankruptcy after FTX’s collapse blew a hole through the company’s financials, according to people familiar with the matter.  The bankruptcy may be filed as soon as this week. Per a report from Bloomberg on Wednesday, talks over the bankruptcy are still ongoing, and plans could change. …
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