Even insiders are selling: an Ethereum Foundation-linked wallet sold 7,500 ETH in four days.
On-chain monitoring shows that a wallet tracked as being linked to the Foundation (0x5CBC) sold 7,500 ETH through CoW Swap in six transactions between November 10 and 14, receiving about 14.52 million USDS. The latest transaction was on the 14th: 2,500 ETH for 4.597 million USDS, at an average price of about $1,839. The funds were then transferred to a Safe multisig wallet.
The wallet received a total of 17,784 ETH last August. It first sold 2,785 ETH on October 26, and after this latest round, it still has about 7,500 ETH. Meanwhile, $ETH briefly fell to around $1,830 over the weekend, its lowest level since July.
What’s the takeaway? The Foundation selling tokens isn’t news in itself. Its treasury policy, published in June 2025, explicitly says that annual spending should be capped at 15% of its treasury, with a 2.5-year reserve in fiat currencies. Selling tokens for stablecoins to pay salaries and fund grants is standard practice. What this whale thinks is really worth watching is the pace: six transactions in four days, with more selling as the price fell. The average sale price slid from $1,936 to $1,839, suggesting it wasn’t waiting for a rebound either. In the short term, this is a clear source of selling pressure. For ETH to stabilize, this round of selling needs to stop first. Looking further ahead, at this rate, the Foundation has only another round of sales left from its 7,500 ETH stash, so the selling pressure isn’t endless. As for FanFan, this whale will crunch the numbers first and take it from there.
On-chain monitoring shows that a wallet tracked as being linked to the Foundation (0x5CBC) sold 7,500 ETH through CoW Swap in six transactions between November 10 and 14, receiving about 14.52 million USDS. The latest transaction was on the 14th: 2,500 ETH for 4.597 million USDS, at an average price of about $1,839. The funds were then transferred to a Safe multisig wallet.
The wallet received a total of 17,784 ETH last August. It first sold 2,785 ETH on October 26, and after this latest round, it still has about 7,500 ETH. Meanwhile, $ETH briefly fell to around $1,830 over the weekend, its lowest level since July.
What’s the takeaway? The Foundation selling tokens isn’t news in itself. Its treasury policy, published in June 2025, explicitly says that annual spending should be capped at 15% of its treasury, with a 2.5-year reserve in fiat currencies. Selling tokens for stablecoins to pay salaries and fund grants is standard practice. What this whale thinks is really worth watching is the pace: six transactions in four days, with more selling as the price fell. The average sale price slid from $1,936 to $1,839, suggesting it wasn’t waiting for a rebound either. In the short term, this is a clear source of selling pressure. For ETH to stabilize, this round of selling needs to stop first. Looking further ahead, at this rate, the Foundation has only another round of sales left from its 7,500 ETH stash, so the selling pressure isn’t endless. As for FanFan, this whale will crunch the numbers first and take it from there.
