The Ethereum Foundation transfers 50000 ETH to a new wallet address specifically designed to support DeFi

According to The Block, the Ethereum Foundation has announced the establishment of a wallet address to begin participating in decentralized finance (DeFi), confirming Vitalik Buterin's recent statement that the non-profit organization will continue to undergo organizational change. The organization plans to inject approximately $150 million worth of ETH into the wallet, but notes that it may take several days to complete the setup. Hsiao Wei Wang, who was recently appointed to the leadership position of the foundation, posted on X on Monday, saying, "The Ethereum Foundation has established a new 5-to-3 multi signature wallet... We have initiated operations to send 50000 ETH to the wallet, but please be patient; due to signature delays, this will take a few days to process, and the Ethereum Foundation will use this new wallet to participate in the DeFi ecosystem