Ethereum Foundation Consolidates 160,000 ETH Into Safe Multisig After On-Chain Move
The nonprofit says the transfer was a scheduled move to a Safe 3-of-5 multisig tied to its DeFi-focused treasury plan, not a sale.
Overview
- Roughly 160,000 ETH, valued between $610 million and $654 million, moved on October 21 to a new address that Arkham Intelligence noted had prior sale-linked activity.
- Safe and the Ethereum Foundation confirmed the funds were consolidated into a Safe multisignature wallet using a 3-of-5 setup, replacing the foundation’s custom multisig.
- Co-executive director Hsiao-Wei Wang characterized the transaction as a planned wallet migration, and the foundation has not announced specific deployment or sale plans.
- Safe said the foundation had been testing its infrastructure since early 2025 and experimenting with DeFi tools including Aave, CowSwap, and Morpho.
- The shift comes as community scrutiny intensifies over governance and spending after Péter Szilágyi publicized a resignation letter and disclosed earning about $625,000 over six years.