The Ethereum Foundation, the main developer of Ethereum, transferred 35,000 Ether worth about $100 million to the Kraken exchange on Friday. The move has sparked concern among members of the Ethereum community and they have demanded an explanation. Aya Miyaguchi revealed that the foundation has an annual budget of $100 million to pay the team’s salaries and grants. He stressed that this transfer does not mean an immediate sale and that the sale will happen gradually. Interestingly, the Ethereum Foundation’s annual budget is roughly equal to the amount that Ripple sells in XRP tokens each month. Although Ethereum’s market capitalization is about 10 times that of XRP, Ripple’s revenue is more than 12 times the Ethereum Foundation’s annual budget.
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