TechFlow news, July 11 — According to on-chain analyst Yujin, Ethereum Foundation member @hwwonx clarified that the 1,210 ETH sold this morning came from the nonprofit development organization Argot Collective, not from the Ethereum Foundation itself. This batch of ETH originated from 7,000 ETH transferred by the Ethereum Foundation to Argot Collective on July 4 as three-year operational funding. Argot Collective had previously stated it would gradually convert these ETH into stable assets. The 1,210 ETH sold were exchanged for 3.496 million USDC at an average price of $2,889.5.
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