The Ethereum Foundation has denied involvement in the sale of 2,975 ETH from an ICO-era wallet. The denial comes after on-chain trackers spotted transactions attributed to the foundation, raising concerns about potential asset dumps. Co-executive director Hsiao-Wei Wang clarified that the wallet is no longer under Foundation control despite past connections and highlighted the significant reduction in Ethereum holdings over time. While the foundation once held around 9% of the total ETH supply during its initial ICO, it now holds less than 0.3% of the current supply. This indicates a shift from the foundation’s earlier dominant position in the network. The recent sale sparked debate about the Foundation’s strategy of reducing its holdings to control its influence and offload ETH supply into corporate hands.