The Ethereum Foundation, a non-profit organization within the Ethereum ecosystem, is reportedly under investigation by a government agency. News of this investigation first surfaced on GitHub on Feb. 26, but it was only discovered by the crypto community weeks later.

According to a GitHub commit, the original developer comment regarding the investigation was deleted, indicating a level of confidentiality surrounding the matter. The scope and focus of the investigation remain unknown, and the Ethereum Foundation has not provided any official comments on the situation.

Previously, the organization’s website stated that they had never been in contact with any agency that required non-disclosure, but this information was removed from GitHub on Feb. 26.

Speculation within the cryptocurrency community suggests that the investigation may be linked to the anticipated launch of Ethereum spot ETFs. Bloomberg analyst James Seyffart has reported that the chances of an Ethereum-based ETF being approved in May have decreased significantly due to a lack of constructive dialogue between the SEC and ETF issuers.

As the investigation unfolds, the cryptocurrency community continues to monitor the situation closely for updates and implications on the future of Ethereum and its related investments.

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