Ethereum Foundation sells 10,000 ETH to Bitmine amid community criticism over fund use.

The Ethereum Foundation sold 10,000 ETH to Bitmine for about $23 million in an over-the-counter deal, following a similar sale the previous week. These sales, totaling nearly $47 million in a few days, aim to fund the foundation's research, development, and community grants. Bitmine, the buyer, is rapidly increasing its Ethereum holdings and staking position, now controlling over 4 million ETH worth $9.5 billion. The rapid sales have sparked criticism from the crypto community about transparency and fund management, though Ethereum's price remained stable, reflecting market absorption of the transactions. The foundation faces ongoing challenges balancing funding needs with community trust and ecosystem stability.