The Ethereum Foundation is preparing to enter the decentralized finance (DeFi) space by moving 50,000 ETH into Aave vaults. This marks a shift for the Foundation, which previously used its ETH reserves to support smaller projects. The move was announced by an Ethereum Foundation staff member known for his involvement in DeFi. Stani Kulechov, founder and CEO of Aave, welcomed the decision as a new era for the Ethereum Foundation. The Foundation has set up a new multi-sig wallet using Safe to receive the ETH deposit and plans to use Safe for long-term fund storage. The decision to join DeFi comes after discussions on changing leadership and roles within the Ethereum Foundation. The Foundation holds a total of 271,415 ETH and aims to find ways to earn passive income rather than selling ETH. The decision to deposit 50,000 ETH into Aave also follows a series of smaller ETH sales for the Foundation's operational needs. The Foundation has faced criticism for its failure to boost ETH market prices and for its funding activity in relatively weak projects. It has also made investments in various projects, achieving modest growth. The proposed changes to the Foundation aim to address these issues and respond to shifting trends in the crypto market.



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