Ethereum Foundation Swaps 100 ETH for DAI on CowSwap

IconCryptoNewsTerminal Staff23 Jul, 2024

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Ethereum Foundation Swaps 100 ETH for DAI on CowSwap

Ethereum Foundation Sells ETH for DAI Blockchain analytics firm ScopeScan reported that an address suspected to be of the Ethereum (ETH) Foundation swapped 100 ETH for 345,000 DAI on decentralized exchange CowSwap. The transaction, which occurred on January 19, 2023, has sparked speculation about the Foundation's financial activities. The Ethereum Foundation is a non-profit organization that supports the development of the Ethereum blockchain. The sale of ETH for DAI suggests that the Foundation may be reducing its exposure to the cryptocurrency market or rebalancing its portfolio. The specific reasons for the transaction are unclear, but it has raised questions about the Foundation's long-term strategy. The Ethereum Foundation has not yet commented on the transaction.

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