Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Ethereum Foundation denies suspicions it transferred $58 million of ETH in effort to lower liquidation price

Ethereum Foundation denies suspicions it transferred $58 million of ETH in effort to lower liquidation price

The BlockThe Block2025/03/10 16:00
By:By RT Watson

Quick Take On Monday night, the blockchain research channel Lookonchain posted that “a wallet suspected to be Ethereum Foundation deposited” over 30,000 ETH “to lower the liquidation price.”

Ethereum Foundation denies suspicions it transferred $58 million of ETH in effort to lower liquidation price image 0

An Ethereum Foundation spokesperson took to social media on Tuesday to deny a claim that the organization had transferred $57 million of ETH to Maker.

This came after Monday night when the blockchain research channel Lookonchain posted to X that "a wallet suspected to be Ethereum Foundation" deposited 30,098 ETH "to lower the liquidation price."

In response to the post, Ethereum Foundation spokesperson Joseph Schweitzer posted Tuesday that the information is "fake." In fairness, Lookonchain's post about the possibility of the transfer coming from the foundation showed that Arkham Intelligence had placed a "?" next to the mentioned wallet, likely signifying Arkham was also unsure if it belonged to the organization.

At the time of writing the 30,098 ETH was worth about $58 million.

Ethereum's declining price has made the cryptocurrency increasingly vulnerable to liquidations. The Ethereum Foundation is a non-profit focused on developing the world's second-largest blockchain.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

This Thanksgiving, we are grateful for bitcoin returning to $90,000.

BlockBeats2025/11/28 08:43
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?

Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.

区块链骑士2025/11/28 08:23
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?

What are the privacy messaging apps Session and SimpleX donated by Vitalik?

Why did Vitalik take action? From content encryption to metadata privacy.

ForesightNews 速递2025/11/28 08:23
What are the privacy messaging apps Session and SimpleX donated by Vitalik?

The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun

The attacker incurred a loss of 3 million in a "suicidal" attack, but may have achieved breakeven through external hedging. This appears more like a low-cost "stress test" targeting the protocol's defensive capabilities.

ForesightNews 速递2025/11/28 08:23
The covert war escalates: Hyperliquid faces a "kamikaze" attack, but the real battle may have just begun