Foundation-linked wallets send 4,393 ETH to Kraken

Two Ethereum Foundation-linked wallets transferred 4,393 ETH, worth about $11.13 million, to Kraken on October 12, according to on-chain transaction data. The transfers show the cryptocurrency reached the exchange, but do not establish that it was sold or that the Foundation currently controls the wallets. The transactions add to a history of ETH moving to Kraken from addresses connected through an early Foundation distribution. According to analysis by EmberCN, a tracked recipient wallet has sent 49,751 ETH to the exchange over roughly a decade. The reported average historical ETH price for those transfers was about $658, a measure of prices at the time of transfers, not confirmed sale proceeds. The wallet history cited in the reports traces 59,751 ETH from an Ethereum Foundation address about a decade ago. Arkham Intelligence’s records, described in one analysis, show the coins first went to an intermediary and were later divided among three recipient wallets. The downstream addresses are not labeled as Foundation wallets in that data, and the records do not identify who controls them now.