Ethereum Foundation Swaps 150 ETH for Stablecoins on CowSwap

IconCryptoNewsTerminal Staff31 Jul, 2024

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Ethereum Foundation Swaps 150 ETH for Stablecoins on CowSwap

Ethereum Foundation has recently swapped 150 ETH for 497,250 DAI on decentralized exchange protocol CowSwap, according to data from Arkham Intelligence. The transaction is part of a pattern of bi-weekly swaps, where the Ethereum Foundation has exchanged varying amounts of ETH for DAI, including 50 ETH, 100 ETH, and 200 ETH in recent weeks. The Ethereum Foundation is a non-profit organization responsible for overseeing the development and maintenance of the Ethereum blockchain. It is unclear why the foundation is swapping ETH for DAI, but it could be related to funding operations or managing its treasury.