Ethereum Foundation Transfers $654 Million in ETH, Calls It ‘Scheduled Wallet Migration’

Summary

The Ethereum Foundation moved roughly 160,000 ETH — about $654 million — to a newly designated treasury multisig in what officials called a “scheduled wallet migration.” Blockchain tracker Arkham flagged the shift before the Foundation’s co‑executive director Hsiao‑Wei Wang confirmed the new main treasury address, noting the recipient wallet’s prior interactions with SharpLink Gaming, Kraken and a multisig that sells ETH. The large internal transfer, coming days after public complaints about developer compensation, raises questions about treasury governance, market liquidity and potential community or regulatory scrutiny.