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05/02/2026

Ethereum Foundation Dumps Another $23 Million in ETH to Treasury Firm

The Ethereum Foundation sold 10,000 ETH worth approximately $23 million to BitMine, a treasury management firm led by Tom Lee, marking the second consecutive week of major disposals.

Ethereum Foundation Dumps Another $23 Million in ETH to Treasury Firm

What happened: The Ethereum Foundation sold 10,000 ETH worth approximately $23 million to BitMine, a treasury management firm led by Tom Lee, marking the second consecutive week of major disposals. The foundation has now sold 20,000 ETH over two weeks, representing nearly $46 million in liquidations.

Why it matters: These systematic sales by Ethereum's governing body signal either strategic treasury management or potential funding needs for development initiatives. The consistent weekly pattern and choice of BitMine as counterparty suggests this is part of a larger, planned liquidation strategy rather than opportunistic selling.

Source: Decrypt