Ethereum wallet likely from an early investor

Wu Blockchain later clarified that while the account was suspected of belonging to the Ethereum Foundation, transaction history suggested it was more likely associated with an early Ethereum investor.

The address received a 4 million Dai (DAI) transfer from the EF ETH Sale in May 2022, and initial ETH funding was traced back to a wallet called jonny.eth.

The address deposited the $56 million into the Sky vault to avoid liquidation as ETH prices tumbled. On March 10, ETH dropped from a high of $2,138 to $1,813, a 15% decline.

The move allowed the wallet to avoid liquidation, lowering its liquidation price to $1,127.14, 40.19% below ETH’s price of $1,896 at the time $ETH #Binance #ETH