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Jeffrey Wilcke, a former Ethereum co-founder, transferred 20,000 ETH to the Kraken cryptocurrency exchange on November 28 at 19:59 UTC+8. 
The transaction, valued at approximately $72.5 million, was one of the more notable movements within the Ethereum ecosystem. Wilcke still holds 106,000 <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">ETH</a>, equivalent to around $384 million at current prices. 
<img decoding="async" class="alignnone" src="https://pbs.twimg.com/media/GdePspWWEAACEHW?format=jpg&amp;name=medium" alt="Image" title="Ethereum Co-Founder Transfers 20,000 ETH to Kraken 30"> 
Such large transfers often draw attention, as they can signal potential selling activity. This comes at a time when Ethereum and the broader cryptocurrency market are witnessing renewed interest, with inflows into both Bitcoin and Ethereum exchange-traded funds (ETFs) picking up. 
On November 27, Bitcoin spot ETFs recorded a net inflow of $103 million, while Ethereum spot ETFs saw inflows of $90.1 million, marking four consecutive days of positive net flows for Ethereum. However, Ethereum still trails its 2021 all-time high of $4,878 by about 25%, reflecting a longer recovery path compared to Bitcoin. 
The overall cryptocurrency market has gained nearly 5% in the past 24 hours, with a collective market cap approaching $3.5 trillion. Despite this growth, Ethereum remains a key focus for both institutional and individual investors, given its role as the second-largest blockchain ecosystem. 
Adding to the news, the Ethereum Foundation recently disclosed its financials for the first time in over two years. The report, published on October 31, revealed a treasury of $970.2 million, down 39% from $1.6 billion in March 2022. 
Most of the foundation’s holdings (81.3%) are in cryptocurrency, with nearly all of that in Ethereum (ETH). The organization has attributed its strategy to a long-term belief in Ethereum’s potential. 
<img decoding="async" class="alignnone" src="https://www.coindesk.com/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2Fs3y3vcno%2Fproduction%2Fe9804331e45ba49b348a6a15a22c1cad73b942f9-2242x1266.png&amp;w=3840&amp;q=75" alt="Breakdown of the Ethereum Foundation's treasury as of Oct. 31. 2024 (Ethereum Foundation)" title="Ethereum Co-Founder Transfers 20,000 ETH to Kraken 31"> 
The Ethereum Foundation spent $240 million between 2022 and 2023, funding development and public goods for the ecosystem. Amid these disclosures, the foundation introduced a conflict-of-interest policy to ensure transparency and accountability within its team.

Ethereum Co-Founder Transfers 20,000 ETH to Kraken

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