Jeffrey Wilcke, co-founder of Ethereum (ETH), handed over ETH worth around $262 million on May 20 to a wallet labeled as the Kraken Depase Address, according to on-chain data.
The 105,736 ETH relocation left almost all of Wilk empty, leaving just 268.73 ETH in his wallet. Subsequent withdrawal from the exchange suggests that Wilk could split his holdings into different wallets.
According to Lookonchain, a few minutes after the deposit, eight different addresses retracted from Kraken, worth $262 million ETH. This is the first time Wilcke has made a substantial move to the exchange since Wilcke moved $147 million in four transactions last year.
Despite the scale of the movement, Ethereum prices remained relatively stable. At the time of reporting, ETH was trading at $2,493, a 0.17% decrease over the past 24 hours.
In particular, Ethereum has shown strong performance over the last 30 days, bringing 72% from its low recorded earlier this year to a high of $2,737.17 on May 13th.
Past EF Transfers
Ethereum transfers carried out by key figures associated with the protocol and Ethereum Foundation (EF) often lead to scrutiny within the community.
On August 23, 2024, EF transferred $94 million worth of ETH to Kraken. The move raised concerns among community members and prompted an explanation from EF contributor Josh Spark and Ethereum co-founder Vitalik Buterin. Support organizations that contribute to Ethereum development.
The Ethereum Foundation Transactions, which followed in early 2025, was accompanied by the foundation. 300 ETH will be on sale in January alonetotaling about $981,200.
The community questioned whether the foundation should be stakes on holdings rather than liquidating the holdings. In response, Butaline stated legal risks and possible upgrades to controversial protocols It discouraged EF From massive staking.
However, the foundation allocated funds to a decentralized financial platform in February, generating yields.
EF has deposited 30,800 ETH, worth approximately $82 million, in Aave’s lending market. Spark received 10,000 ETH of additional deposits, and Compound received 4,200 ETH. Analyst Tom One Annual yields of 1.5% were estimated The possibilities from these moves amount to a profit of around $1.5 million based on current prices.