ETH co-founder Vitalik Buterin: There will be no sales, only donations

ethereum co-founder Vitalik Buterin responded to criticism on Saturday and clarified whether he sold any of the eth he had acquired since 2018.

“All sales have been to support various projects that I believe are valuable, whether within the ethereum ecosystem or a broader charity,” Buterin said in an Aug. 31 statement. x.com/VitalikButerin/status/1829801352500801538″ target=”_blank” rel=””>mail on x.com.

Buterin cited biomedical research and development as an example. See below.

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Buterin responds to accusations

Buterin recently transferred 800 eth (approximately $2.01 million) to a multisig wallet, which subsequently exchanged 190 eth for 477,000 USD Coin, a stablecoin pegged to the US dollar.

The activity x.com/coinmamba/status/1829574331824783476″ data-type=”link” data-id=”https://x.com/coinmamba/status/1829574331824783476″ target=”_blank” rel=””>aroused interest from those in the crypto community; some assumed Buterin was selling his eth.

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This was the second major transfer from Buterin’s wallet in August. 3,000 eth, worth $8.04 million at the time, was moved just weeks earlier on August 9 to the same multisig wallet.

Buterina eth/0xb8ccf84d” target=”_blank” rel=””>rinse that none of his eth has been sold for personal gain. Furthermore, when the eth in his wallet appears on exchanges, it is not he who sells it but the recipients of his donations, he adds.

“If you see an article that says 'Vitalik is sending XXX eth to (an exchange),' it's not actually me selling, it's almost always me donating to some charity or non-profit or other project, and the recipient is selling because, well, they have to cover the costs,” he said.

Buterin decomposition

Buterina x.com/VitalikButerin/status/1828448417585971661″ target=”_blank” rel=””>holds approximately 90% of its net worth is in eth, underscoring its commitment to the digital asset as a store of value.

Buterin’s claims about supporting “various projects” are not unfounded. crypto.news reported that the 30-year-old entrepreneur donated 199 eth (approximately $517,000) to ethOS, a mobile operating system based on the ethereum blockchain.

Buterin has withdrawn more than $US85,000 ($209 million) from his wallets over the past three years, according to Lookonchain. x.com/lookonchain/status/1829576967894815191″ target=”_blank” rel=””>data.

An observer is x.com/ogFaraday/status/1829608184492982673″ target=”_blank” rel=””>disputing Figure. See below.

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Buterin also donated 200 eth to Effective Altruism Funds, an animal welfare initiative, on August 15.

In 2021, it donated over 50 trillion SHIB tokens, worth over $1 billion at the time, to the India Covid Relief Fund set up by Polygon co-founder Sandeep Nailwal.