3-7-2025 – The Ethereum Foundation’s development team transferred 1,000 ETH, valued at approximately $2.6 million, to a multisig wallet address starting with 0xc061, first reported by Jinse Finance via PeckShield monitoring. This transaction adds to a series of similar transfers, with the wallet now holding 15,000 ETH, worth nearly $39 million. Blockchain analysis indicates the 0xc061 address is a Gnosis Safe multisig wallet, commonly used for secure treasury management or funding external projects.
The Ethereum Foundation has been systematically moving 1,000 ETH daily to this address for weeks, totaling 13,000 ETH ($32 million) in recent transfers, according to Lookonchain. These movements are likely tied to funding ecosystem initiatives, grants, or legal defense funds, such as those for Tornado Cash, rather than market sales. The transfers come amid heightened activity in the Ethereum ecosystem, including the launch of the Ethereum Community Foundation, which aims to boost ETH’s value through deflationary projects.
Ethereum’s price remains stable around $2,445, supported by strong institutional interest and ETF inflows of $260 million last week. However, the Foundation’s frequent transfers have sparked community debate, with some questioning the lack of transparency around the funds’ ultimate use.