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No more ETH dumps? Ethereum Foundation turns to DeFi for cash

cryptoweekly by cryptoweekly
May 29, 2025
in bitcoin, News
0

Aave founder Stani Kulechov says the Ethereum Foundation is now both supplying and borrowing from Aave, completing what he calls “the full DeFi circle.”

The Ethereum Foundation (EF) has borrowed $2 million in GHO, a decentralized stablecoin developed by Aave, in a move signaling deeper engagement with decentralized finance (DeFi) strategies.

In a May 29 X post, Aave founder Stani Kulechov said the foundation borrowed $2 million in GHO tokens. “The EF is not only supplying ETH to Aave, but also borrowing from Aave,” Kulechov wrote, describing the development as “the full DeFi circle.”

GHO is a decentralized, overcollateralized stablecoin native to the Aave Protocol. Unlike centralized stablecoins, GHO is governed by Aave’s decentralized autonomous organization (DAO), which oversees interest rates, collateral requirements and facilitator selection. 

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