# Aya's explanation for the 35k ETH Kraken deposit

Source: https://x.com/AyaMiyagotchi/status/1827219654999470258
Kiwi News: https://news.kiwistand.com/stories/Ayas-explanation-for-the-35k-ETH-Kraken-deposit?index=0x66ca4b15703293751c72a93b1f27948d043844b6c29fdcc6bfc17757ea8a06d3b3a35aea
Submitted by sileo.eth on 2024-08-24 UTC, 2 upvotes, 0 comments

## Summary

The Ethereum Foundation says a deposit of 35,000 ETH to Kraken is part of its treasury management, not a sale. The foundation states it has an annual budget of about $100m, largely made up of grants and salaries, and that some recipients can only accept fiat. It says it was advised for a long period this year not to carry out treasury activities because of regulatory complications, and so could not share the plan in advance. It adds that planned and gradual sales will follow.

## Article

This is part of our treasury management activities. EF has a budget of ~$100m per year, which is largely made up of grants and salaries, and some of the recipients are only able to accept in fiat. This year, there was a long period of time when we were advised not to do any treasury activities due to the regulatory complications, and we were not able to share the plan in advance. Also this transaction is not equal to a sale. There will be planned and gradual sales from here on.