*đšEthereum Foundation's Transfer to Kraken Exchange*$ETH đ‎ïžđȘ
*Background*
- The Ethereum Foundation is a non-profit organization that supports Ethereum's development.
- The foundation transferred 35,000 ETH (approximately $94 million) to Kraken Exchange.
*Purpose*
- The transfer is part of the foundation's routine treasury management.
- The foundation needs to fund its annual budget of around $100 million.
*Funding and Expenses*
- The foundation's primary funding source is Ether (ETH).
- Expenses (grants, salaries, operational costs) are mostly in fiat currencies like US dollars.
*Conversion and Liquidity*
- The foundation converts ETH to fiat currencies to meet expenses.
- Kraken Exchange is a partner exchange that facilitates this conversion.
- The foundation diversifies assets to minimize risk, holding ETH and fiat currencies.
*Transfer Details*
- The transfer is a routine transaction aligning with the foundation's treasury management strategy.
- The foundation's executive director, Aya Miyaguchi, confirmed it was a conversion of assets, not a sale of ETH.
