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Ethereum Foundation's $100 million ETH transfer sparks controversy
The Ethereum Foundation's $100 million ETH transfer to cryptocurrency exchange Kraken has sparked controversy in the Ethereum ecosystem. The foundation's executive director, Aya Miyaguchi, said the transfer was made for annual expenses. While the foundation was criticized for not being transparent, the budget was also high.
The echo of the Ethereum Foundation's transfer of 35 thousand ETH worth nearly $100 million to cryptocurrency exchange Kraken last night continues.
No explanation was given until the reactions grew
While Ethereum users and investors were heavily questioning what the transfer was made for, the first official statement on this subject came from Aya Miyaguchi, the foundation's executive director, after increasing questions.
Miyaguchi said the transfer was made for the foundation's annual expenditures. Stating that most of these expenditures went to grant and salary payments, Miyaguchi said, “Some of the buyers only accept payments on fiat money.
This year, we were advised not to engage in any treasury activity due to legal difficulties for a long time, and we were unable to share the plan in advance.” Miyaguchi finally emphasized that this transaction is not a sales transaction, sales will be made in a planned and gradual way.
