Ethereum Foundation Faces Backlash For 'Dumping' $100 Million ETH After Saying 'Believe In somETHing'

Benzinga
07-30

Cryptocurrency analyst J.A. Maartun called out the Ethereum Foundation on Tuesday for selling a large chunk of its Ethereum ETH/USD holdings contrary to its public messaging.

What happened: In an X post, Maartun, known for tracking on-chain movements, highlighted that the non-profit organization has offloaded 25,833 ETH, worth $98.98 million at prevailing prices, in the last few months.

"Is this what belief looks like?" Maartun asked the Ethereum Foundation. "Follow actions, not words."

The accusation of hypocrisy comes after the foundation, dedicated to promoting and developing Ethereum-related technologies, wrote, "believe in somETHing" in an X post.

A closer look at the movement revealed that the outflows coincided with the jump in ETH’s price. The foundation still held 189,357 ETH as of this writing.

Jack, an X user, suggested that there could be a “justified reason” for the sales outside of profit-taking. Maartun agreed but urged the ETH Foundation to be transparent in their messaging and inform investors of any on-chain moves.

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

The Ethereum Foundation didn't immediately return Benzinga's request for comment.

See Also: Why Crypto Investors Are Receiving Internal Revenue Service Warning Letters

Why It Matters: Notably, around 10,000 ETH was acquired by the Ethereum treasury company Sharplink Gaming Inc. SBET in an over-the-counter deal with the Ethereum Foundation earlier in the month.

The discussions about on-chain moves come amid a remarkable comeback bounce for ETH, which nearly took the second-largest cryptocurrency past the crucial $4000 mark.

Price Action: At the time of writing, ETH was trading at $3,831.58, down 1.54% in the last 24 hours, according to data from Benzinga Pro.  

Loading...
Loading...

Read Next: 

  • Cathie Wood’s $15M Crypto Bet: Sells Bitcoin King Block, Doubles Down On Ethereum Giant Bitmine Immersion

Photo: Shutterstock

$ETHEthereum
$3820.900.72%

Stock Score Locked: Edge Members Only

Benzinga Rankings give you vital metrics on any stock – anytime.

Unlock Rankings
Edge Rankings
Momentum
85.79
Price Trend
Short
Medium
Long
Overview
IBITiShares Bitcoin Trust
$67.090.57%
$19.401.68%
Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10