The Ethereum Foundation has created a multisig wallet in order to transfer 50,000 ETH to increase participation in decentralized finance (DeFi). The wallet is planned to be backed by approximately $150 million worth of ETH, but the setup may take several days. This move comes in response to concerns about the transparency and treasury management of the Ethereum Foundation, which have been expressed by high-profile crypto commentators. There have been suggestions to replace the executive director and calls for the foundation to deposit or distribute some of its $1 billion ETH holdings onto the chain. Ethereum co-founders have hinted at "major changes" to the foundation's leadership structure in response to the criticism.



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