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Ethereum Foundation Unstakes 21,270 ETH Worth $50M From Lido

GateNews
On-Chain DataProject Progressethereum news
ETH-0.19%

According to blockchain analytics platform Arkham, the Ethereum Foundation unstaked 21,270 ETH worth approximately $50 million from Lido on Monday, moving the assets from the liquid staking protocol into Ethereum’s withdrawal queue. The withdrawal does not automatically indicate plans to sell the assets; holders must wait for the request to be processed and finalized before claiming the underlying ETH.

This move follows earlier treasury adjustments, including the unstaking of 17,000 ETH in late April and the sale of 10,000 ETH to Bitmine through an over-the-counter transaction on May 1.

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