Ethereum Foundation Under Investigation by 'State Authority'

CoinDesk: The Ethereum Foundation -- the Swiss non-profit organization at the heart of the Ethereum ecosystem -- is under investigation by an unnamed 'state authority,' according to the group's website's GitHub repository. The scope of the investigation and its focus was unknown at press time. According to the GitHub commit dated Feb. 26, 2024, 'we have received a voluntary enquiry from a state authority that included a requirement for confidentiality.'

The investigation comes during a time of change for Ethereum's technology. Ethereum is the second-largest blockchain by market cap after Bitcoin, launching in 2015 following an initial coin offering for the chain's native ETH token. Earlier this month, the chain underwent a major technical upgrade, dubbed Dencun, designed to bring down transaction costs for users of Ethereum-based layer-2 platforms.

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