finance
Nonprofit Developer Group Receives 2,469 stETH Grant
A nonprofit Ethereum development organization received 2,469 stETH worth about $4.34 million. The payment marks the fourth year of a five-year funding commitment that began in July 2024.
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A nonprofit organization focused on Ethereum development received 2,469 stETH valued at approximately $4.34 million. The transfer represents the fourth installment of a five-year operational funding agreement. Under the original arrangement, the organization was granted 7,000 ETH in July 2024.
The group sold 4,826.6 ETH at an average price of $3,194, converting the proceeds into 15.417 million USDC. The remaining balance from the initial grant continues to support operations. A fifth and final payment of 2,469 stETH is scheduled for July 2027. The sequence of transfers was recorded on-chain and reported by @EmberCN.
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