Ethereum co-founder's 110K ETH move is to prevent liquidation, not a sale

A transfer of 110,000 ETH from a wallet belonging to Ethereum co-founder Joseph Lubin, the first such move in three years, was intended to defend against liquidation rather than for a sale, Crypto Briefing reported. The funds were deposited into a Sky Protocol (formerly MakerDAO) vault. Lubin has a total of 412,430 WETH locked as collateral across three Sky vaults. The protocol allows users to borrow the DAI stablecoin by depositing cryptocurrency as collateral.