The Ethereum Foundation has successfully migrated its treasury, consisting of over 160,000 ETH valued at approximately $650 million, to Safe{Wallet}. This strategic move follows extensive DeFi testing and aligns with the Foundation's policy to engage more actively in Ethereum's DeFi ecosystem. Safe{Wallet}, managed by Safe Labs, is a leading smart account standard for multisig wallets. Previously, the Foundation utilized a custom-built multisig solution but has now consolidated its ETH holdings into Safe. This transition comes after testing Safe with a separate DeFi-focused account, interacting with protocols such as Aave, Cowswap, and Morpho. Safe has recently surpassed 750 million transactions and is trusted by major institutions, including World Liberty Financial, which has processed over $3 billion in transaction volume using Safe smart accounts.
Ethereum Foundation Transfers $650M Treasury to Safe Multisig Wallet
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