Overview
- The Foundation, which finalized the over-the-counter, or off-exchange, sale Friday, sold 10,000 ETH to BitMine for $23.87 million.
- The average price was $2,387 per coin in a direct transaction that did not route through public crypto exchanges.
- The Foundation said the cash will support protocol research, ecosystem development and community grants.
- Ether traded near $2,310 during coverage, which was lower than the price BitMine paid in the deal.
- BitMine reported 4.97 million ETH in holdings as it pursues roughly 5% of the token’s supply, and prior reports noted large weekly withdrawals of ETH from exchanges near $1.1 billion.