Ethereum Foundation Unstakes $50M in ETH From Lido
The post Ethereum Foundation Unstakes $50M in ETH From Lido appeared on BitcoinEthereumNews.com. The withdrawal moved the ETH from Ethereum’s Beacon Chain into Lido’s withdrawal queue, where the assets can later be claimed once processing is complete. The move follows earlier treasury adjustments by the foundation, including the unstaking of 17,000 ETH in April and the sale of 10,000 ETH to Bitmine through an OTC deal. Ethereum Foundation Unstakes 21K ETH The Ethereum Foundation unstaked 21,270 Ether worth close to $50 million from the liquid staking protocol Lido. According to blockchain analytics platform Arkham, the withdrawal process was initiated on Monday through a wallet linked to the foundation, moving the staked ETH out of Lido’s system and into Ethereum’s withdrawal queue. (Source: Arkham) The move means the ETH is being removed from Ethereum’s Beacon Chain, where it was previously locked to help secure the network while earning passive staking rewards. However, the unstaking