The Ethereum Foundation (EF) announced it would convert 1,000 ETH—valued at approximately $4.5 million at the time—to stablecoins using CoW Swap’s Time-Weighted Average Price (TWAP) feature.
This method spreads the sale over time to minimize market impact, aligning with the foundation’s emphasis on DeFi tools and transparency. The proceeds are earmarked for research and development (R&D), community grants, and donations, consistent with the EF’s treasury policy updated in June 2025.
This policy caps annual spending at 15% of holdings and builds a multi-year fiat reserve buffer to ensure financial sustainability amid Ethereum’s growth phase.
This marks the EF’s 17th ETH sale in 2025, following a larger 10,000 ETH conversion announced in September worth $43 million then. Post-sale, the EF holds about 222,720 ETH $1 billion, plus additional assets like wrapped ETH and DAI, totaling a portfolio of roughly $950 million.
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Over April–October 2025, cumulative sales have reached ~36,000 ETH $65–72 million, often timed near rallies, which some traders view as a drag on price action despite the modest scale relative to ETH’s $500+ billion market cap.
Proponents praise the transparency and DeFi integration as a model for non-profits, while critics argue it signals weak conviction in ETH’s upside or adds unnecessary sell pressure amid ETF inflows now holding ~10% of circulating ETH.
Historically, EF sales have had limited negative impact—average price change one week post-sale is +1.3%—but timing near highs fuels speculation. As of October 6, ETH trades around $4,500, up 12% from recent lows, with no immediate price dip tied to this announcement.
Lord Miles’ Polymarket Profit from His Own Challenge
YouTuber and adventurer Lord Miles real name: Miles Routledge sparked controversy in September 2025 by allegedly profiting ~$60,000 from betting against his own 40-day water-only fast in the Saudi Arabian desert—a challenge announced on July 4 and turned into a Polymarket prediction market.
The market asked: “Will Lord Miles complete a 40-day fast in the desert by September 13?” with “YES” shares peaking at 70¢ implying 70% odds of success before crashing to near zero after rumors of his death, arrest, or disappearance on September 17 his last stream.
On-chain sleuths, including Coffeezilla and Arkham Intelligence, traced funds from Miles’ known donation wallets to a Polymarket address (0x3DE18B0D551ED1d455B5724494Eff3c73070563F, labeled “MONEYMONEYPLS”). July 5: Miles buys $3,473 in “YES” shares at ~29¢ but sells them two months later for ~$500 profit—missing a later pump to 70¢, which frustrated him.
Arkham Intelligence data on Aug 30–Sep 17: He shifts to $29,500 in “NO” shares at an average 33¢ betting failure, inverse to YES at 66% odds. Post-Sep 17: Market tanks after unverified claims (e.g., coma, death, Saudi jail), yielding $60,000+ profit on the “NO” position as shares hit 99¢.
Some reports inflate the profit to $400,000, linking it to laundered casino funds or bribes via multiple accounts, with $15 million total volume on the market. Miles’ X account now claims he’s in a Saudi jail, but skeptics call it a stunt to rig the outcome, especially after a sponsor (Duel) declared his “death” confirmed.
This isn’t isolated—Polymarket faced U.S. scrutiny in 2022 but relaunched legally in 2025 after acquiring a CFTC-licensed exchange. The scandal highlights prediction markets’ vulnerability to self-manipulation by influencers, eroding trust despite $170B+ in stablecoin liquidity enabling such bets. No formal charges yet, but it could invite regulatory heat on platforms like Polymarket.