"Ethereum Foundation begins staking operations, investing $3.8M worth of ETH for yield generation. Aims for transparency amidst solo staking & operational
Title: Ethereum Foundation Stakes over $3.8 Million Worth of ETH for Yield Generation
**Foundation Initiates Staking Operations**
- The Ethereum Foundation has commenced staking operations, with an initial investment of approximately 2,106 ETH, worth around $3.8 million.
- This move is part of a broader strategy outlined last June to stake up to 70,000 ETH over time, equivalent to around $129 million.
**Yield Generation and Transparency**
- By engaging in solo staking, the Ethereum Foundation aims to generate native ETH-denominated yield for its operations.
- The Foundation's blog post emphasizes transparency and operational management of validators in this process.
**Ethereum Founder's Sales and Future Funding**
- Concurrently, Ethereum founder Vitalik Buterin has been selling ETH to fund future network initiatives.
- In the last few days, Buterin sold approximately $6.1 million in ETH, with plans to offload around $44.7 million of ETH in total.
**Economic Austerity and Reduced Spending**
- The Ethereum Foundation is implementing a period of "mild austerity," aiming to gradually reduce its spending from 15% of its treasury to 5% annually by 2030.
**Executive Leadership Changes**
- Earlier this month, the Ethereum Foundation experienced a change in executive leadership with Co-Executive Director Tomasz Stańczak stepping down, and Bastian Aue being appointed as interim Co-Executive Director.
**Market Outlook and ETH Performance**
- ETH, the foundation's key asset, has seen a 2% decrease in the last 24 hours and nearly 37% drop in the last 30 days, currently trading at $1,852.
- Prediction market users on Myriad anticipate further losses, with a nearly 75% chance that ETH drops to $1,500 before rebounding to $3,000.
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