- The Ethereum Foundation unstaked 17,035 ETH, worth roughly $40 million, after nearing its 70,000 ETH staking goal.
- This move has prompted speculation about the Foundation’s motives, including potential selling.
- The foundation’s large-scale staking raises governance concerns, as cautioned by Ethereum co-founder Vitalik Buterin.
The Ethereum Foundation has moved to unwind a significant portion of its staked Ethereum holdings, withdrawing 17,035.326 ETH worth approximately $40 million, according to data from Arkham. This transaction occurred shortly after the Foundation’s staked ETH total approached its stated target of 70,000 ETH. Consequently, the move involved depositing wrapped staked ETH (wstETH) into Lido’s unstETH contract to initiate the withdrawal process.
However, the Foundation has not disclosed its reasons for unstaking the 17,000 ETH, leading some observers to speculate it could be preparing to sell. “The biggest seller of ETH continues to be the people who created ETH,” one user wrote. The Foundation began its staking program in June 2025 to fund protocol research and development, steadily building its position to nearly 69,500 ETH. Meanwhile, Ethereum co-founder Vitalik Buterin has cautioned that such large-scale staking by the foundation could complicate network neutrality during potential contentious hard forks.
In a related development, decentralized finance protocols have united to back rsETH following a major exploit. The coordinated “DeFi United” effort includes backing from Aave, Lido DAO, Golem Foundation, and contributions from the EtherFi Foundation and Mantle.
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