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Ethereum Foundation launches multisig wallet for DeFi participation

The Ethereum Foundation’s multisig wallet will enhance its DeFi involvement and address transparency concerns surrounding treasury management. Utilizing a 3-of-5 multisig setup via Safe, the wallet has already transferred 50,000 ETH, valued around 165.3 million USD, as part of its strategy to increase revenue and adapt to financial pressures.

The foundation faces scrutiny due to its treasury decreasing by 39% over the past three years. With 81.3% of its treasury in cryptocurrency, predominantly ETH, the foundation’s new wallet aims to offer opportunities for revenue generation while maintaining neutrality amid regulatory concerns.

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