Ethereum’s co-founder, Vitalik Buterin, has addressed recent accusations regarding his sale of Ether (ETH). On August 30, a crypto community member claimed Buterin sold over $2 million worth of ETH shortly after making a bullish tweet. Onchain analytics firm Lookonchain also noted that Buterin transferred 3,000 ETH from his wallet on August 9.
Buterin responded on August 31, dismissing these allegations. He explained that he hasn’t sold any ETH for personal gain since 2018. Instead, all sales were made to support Web3 projects and charitable causes.
“I haven’t sold and kept the proceeds since 2018,” Buterin stated. “All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity, like biomedical research.”
The crypto community largely supported Buterin’s stance. Many users encouraged him to continue using ETH profits for positive causes, with one user even suggesting he “deserves the yacht” for his contributions.
Buterin also recently defended Ethereum against claims it is neglecting decentralized finance (DeFi). Kain Warwick, creator of yield farming, criticized Buterin’s view on DeFi, but Buterin remained firm on his commitment to Ethereum’s core values: permissionlessness and decentralization. He emphasized his focus on creating sustainable, useful applications rather than chasing temporary trends.
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