On-chain data shows that the Ethereum Foundation address received 1,700 $ETH from a Safe multisig wallet 0xbC9a9 about 30 minutes ago, and then swapped the funds for nearly 2.74 million $USDC. Afterward, the multisig wallet sent another 494K $USDC to the Ethereum Foundation.
According to TokenInsight data, the ETH price dropped following the transaction, trading at $1,616.84 now.
