Vitalik Buterin has defended the recent ETH transactions, stating that they are for charitable purposes and initiatives.
Vitalik Buterin, the co-founder of Ethereum, has responded to allegations regarding his sales of Ether (ETH). He has clarified that these transactions were not motivated by personal gain, but rather by a dedication to supporting Web3 projects and charitable initiatives.
In a recent post by the on-chain analytics firm Lookonchain, Buterin has decreased his ETH holdings by 85K ETH ($209M) over the course of three years.
800 ETH, valued at over $2 million, were most recently transferred to a multi-sig wallet. Lookonchain highlighted that the same wallet address had received 3,000 ETH from Buterin on August 9, which fueled concerns about the motivations behind Buterin’s sales.
Buterin categorically denied any allegations of selling ETH for personal gain in response. He stated that he has not sold any Ether for personal financial advantage since 2018. However, he clarified that the purpose of his ETH sales was to provide support for a variety of Web3 initiatives and philanthropic endeavors.
The purpose of Buterin’s statement is to emphasize his unwavering dedication to utilizing his resources to further significant causes, rather than for personal personal gain.
Buterin’s statements also address his perspective on the Ethereum ecosystem and decentralized finance (DeFi). He has faced criticism for Ethereum’s purported failure to adequately support DeFi.
Kain Warwick, the inventor of yield farming, and MilliŞ, a crypto philosopher, both criticized Buterin for his perceived lack of emphasis on DeFi.
However, Buterin defended Ethereum’s involvement in DeFi and his stance, asserting that “DEXes are incredible, and I utilize them on a weekly basis.”
Buterin’s defense is indicative of his dedication to guaranteeing that Ethereum continues to facilitate sustainable and significant advancements in the blockchain sector. He has consistently emphasized the significance of long-term value over transitory gains, thereby reaffirming his stance that the Ethereum network should prioritize foundational principles over transient trends.
Buterin has reaffirmed his dedication to the broader vision of a decentralized and impactful digital future by addressing these allegations and defending Ethereum’s role in DeFi.
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