The Ethereum Foundation just moved 10,000 ETH to Kraken. They say this cash infusion is for legit causes, like research, grants, donations.
Sounds reasonable, right? The Foundation’s wallet is stacked with over a billion dollars’ worth of ETH. Selling a slice now and again to fund the empire? Expected business. Or it is?
Cash to cover two and a half year
In fact, the community threw shade faster than a New York minute. Why? Because the Foundation sold on a centralized exchange, Kraken.
That move? Juxtaposed against Ethereum’s own anthem of decentralization and DeFi, it felt like a boss talking the talk but walking a different path.
0/ Transparency Notice: Over several weeks this month, EF will convert 10K ETH via centralized exchanges as part of our ongoing work to fund R&D, grants, and donations.
Conversions will take place over multiple smaller orders, rather than as a single large transaction.
— Ethereum Foundation (@ethereumfndn) September 2, 2025
The Ethereum Foundation isn’t some fringe outfit in the system, it’s the treasury manager, the big dog.
Back in June, they laid down policy aiming to keep enough cash to cover about two and a half years of expenses.
Sell high, fund ongoing projects, that’s the plan. This particular sale ticks those boxes to a T. So far, so good.
But critics? They weren’t buying it. Ethereum preaches DeFi, privacy, fighting the middlemen.
Yet here comes the Foundation, comfortably selling via Kraken’s centralized doors, when alternatives exist.
They could’ve borrowed stablecoins against ETH, played the on-chain swap game, or quietly sold to long-term treasury firms. Nope. They went old school.
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Decentralization?
Market movers shrugged, 10,000 ETH doesn’t punch market prices hard. But the community? They zeroed in on the symbolism. Why sell ETH for cash if you believe in ETH as money?
Why stick to centralized cash-outs if you vow decentralization? Some said gradual on-chain selling might’ve been smoother, more aligned with Ethereum’s roots.
The timing? Another spice to the stew. ETH hovered near its highest prices in years. Selling then? Classic profit-taking, making this feel less like necessity and more like we’re cashing out.
Shockwaves
The Foundation played it straight, they’re open about the sale, splitting it to avoid shockwaves. But trust? That’s the sticky spot.
The vision is DeFi, open-source, on-chain tools, but reality? Centralized exits rule the day for big moves.
They may make sense from a risk view, because it’s safer, faster, but it’s also telling. The Ethereum Foundation bends its ideals when the real cash shows up.
For investors, experts say there’s a lesson here. With over 224,000 ETH still in the vault, every sale whispers a question, how much does the Foundation truly trust ETH as money?
This 10,000 ETH slice fits policy but also reminds us, foundations, even mighty ones, walk a line between doctrine and dollars.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: September 4, 2025 • 🕓 Last updated: September 4, 2025
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