Ethereum Foundation Transfers $2.45M in ETH Amid Glamsterdam Upgrade Preparations

The Ethereum Foundation moved approximately $2.45 million in ETH to an unlabeled Gnosis Safe multisignature wallet, leaving behind around $235.46 million in tokens and $23 million in USDC.

This transfer has raised questions about whether the funds were sent to an outside party or remain under the Foundation's control. On-chain analytics firm Arkham notes that a distinction matters here: a routine treasury management transfer would be one thing, but a transfer to an external address could suggest a sale or grant payment.

The Glamsterdam upgrade is set to begin public testing on the Sepolia testnet on October 6, with client teams needing to ship Sepolia-compatible software by September 29. This leaves only seven days for security review before testing starts.

In related news, MetaMask has rolled out a new anti-scam feature called Added Protection, which forces transactions to match their preview or fail automatically. The Quick Slots proposal aims to shorten Ethereum's block time from 12 seconds to 10 seconds, with major DeFi players already backing the plan.