Amid a period of public scrutiny, the Ethereum Foundation announced that it set up a wallet address to begin participating in DeFi, confirming a recent statement from Vitalik Buterin that the non-profit will be ongoing organizational changes. The organization plans to seed the wallet with approximately $150 million worth of ETH, though noted it could take a few days to set up.

"The Ethereum Foundation has set up a new Safe 3-of-5 multisig wallet ... An op has been initiated to send 50,000 ETH there, but be patient; due to signing delays, this will take a few days to process," Hsiao-Wei Wang, who was recently appointed to a leadership role at the foundation, posted to X on Monday. "The [Ethereum Foundation] will use this new wallet to participate in the DeFi ecosystem."

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