Ethereum Foundation Moves 50,000 ETH to New Wallet

In response to increasing public attention, the Ethereum Foundation has launched a wallet address to engage with the DeFi ecosystem. This announcement aligns with Vitalik Buterin's recent comments about ongoing organizational changes within the non-profit. The foundation intends to deposit about $150 million in ETH into this wallet, although the setup process may take several days. Hsiao-Wei Wang, recently appointed to lead the project, announced on X that a new Safe 3-of-5 multisig wallet has been created. "An operation has begun to transfer 50,000 ETH to this wallet, but please be patient; due to signing delays, the process will take a few days to complete," she mentioned. "The Ethereum Foundation will utilize this new wallet to actively participate in the DeFi sector."