Ethereum Foundation Offloads $47M in ETH as Brazil Cracks Down on Crypto Payments

In a significant market move, the Ethereum Foundation has sold 10,000 ETH in a private over-the-counter deal worth approximately $47 million, raising eyebrows across the crypto community. The transaction, executed without public auction, is seen as a strategic cash-out by the foundation, which has historically sold tokens to fund development and operations. Meanwhile, Brazil's central bank has banned the use of cryptocurrencies for cross-border payments, citing concerns over financial stability and consumer protection. The new regulation prohibits crypto from being used to settle international transactions, dealing a blow to the burgeoning remittance and payment sector in the region. Adding to the day's drama, a proposed quantum-resistant solution for Bitcoin has sparked debate about the long-term security of the network. Researchers claim a new algorithm could protect against future quantum attacks, though critics question its practicality. Elsewhere in crypto news: SBI Holdings acquires a stake in Bitbank exchange; a court stays the suspension of Bithumb; Bakkt acquires a stablecoin payments firm; and Bitcoin surges above $78,000.