Ethereum Foundation denies rumors of Maker liquidation
The Ethereum Foundation has denied that a wallet under its control was nearly liquidated. Earlier today, crypto traders spotted an unusual transfer of 30,098 ether (ETH) from a suspected Ethereum Foundation address into Maker, a stablecoin-focused crypto lender. Speculators guessed the reason for the $56 million deposit was an emergency collateralization to prevent an embarassing, expensive liquidation. However, Protos reached out to the Ethereum Foundation for comment and was told by a spokesperson that the wallet involved in this transaction was not controlled by the organization. ETH has halved in the past year and declined 27% in the past 30 days, dipping 4% in the last 24 hours alone. As its price continues to crash, the likelihood of liquidating ETH as a depreciating unit of collateral increases. Last month, in response to widespread criticism of the Ethereum Foundation’s governance, Vitalik Buterin replaced its leadership and approved its first-ever deposits...