Ethereum Foundation "sells high" 1210 ETH? The official has clarified...

Today (11) during the Asian session in the morning, a transfer of 1210 ETH (approximately 3.496 million USD) triggered speculation in the market about the Ethereum Foundation dumping assets when ETH pumps. However, within just a few hours, the Foundation's co-executive director Wang Xiaowei quickly clarified through the X platform, stating that the Address belongs to the independent development organization Argot Collective, and is not directly operated by the Foundation.

Origin of Rumors: On-Chain Data Triggers Market Speculation

Today, on-chain data revealed that an address with a label similar to that of the foundation exchanged 1210 ETH for 3.496 million USDC. Over the past month, the foundation transferred 21,000 ETH to an address starting with 0xc06, and that address transferred 7000 ETH to the 0x247 address six days ago. As a result, the market quickly linked this to the possibility that the foundation was "adjusting its positions," and it was even interpreted as a signal of "selling at highs." This speculation rapidly spread within the community, raising concerns about the price trend of Ethereum.

Official Clarification: The Independent Operation of Argot Collective

In response to market speculation, Ethereum Foundation co-executive director Wang Xiaowei immediately published a statement saying: "The selling address belongs to Argot Collective." This statement clarifies ownership and prevents community dissatisfaction.

(Source: X)

Argot Collective is an independent development organization established by several former foundation members, dedicated to the R&D of the Solidity language and other critical open-source infrastructure. The Ethereum Foundation has committed to providing three years of operational funding, allowing the team to focus on language safety and functionality upgrades. As an independent legal entity, Argot Collective is able to manage its own funds flexibly, and this exchange of USDC is simply a regular operation to maintain development and daily expenses, unrelated to the foundation's reduction.

Ethereum Foundation's Financial Strategy: A Decentralized but Collaborative Governance Path

The Ethereum Foundation currently holds approximately 243,000 ETH. By allocating part of its reserves to independent entities, which can then exchange for stablecoins as needed, the Foundation separates financial risks from project execution responsibilities, demonstrating a governance path of "decentralized yet collaborative." This model helps to:

Reduce Concentration Risk: Avoid having all assets concentrated in a single entity of the foundation, and diversify financial risks.

Improve operational efficiency: Allow independent development teams to manage funds more flexibly and focus on research and development work.

Ensure transparency in the use of funds: Through the financial operations of an independent entity, ensure that funds are used for specific development and operational purposes.

The Ethereum Foundation quickly clarified the rumors of "selling on highs", which not only effectively quelled market speculation but also showcased its transparency in community communication once again. This incident highlights the sensitivity of the cryptocurrency market and the significant influence of on-chain data in sparking discussions. At the same time, it reveals the Ethereum Foundation's governance model of "decentralized but collaborative" through support for independent development organizations, ensuring the long-term healthy development of the ecosystem.