{"id":37001,"date":"2024-08-31T12:55:12","date_gmt":"2024-08-31T12:55:12","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/vitalik-buterin-defends-recent-eth-sales-says-theyre-for-projects-and-charity\/"},"modified":"2024-08-31T12:55:12","modified_gmt":"2024-08-31T12:55:12","slug":"vitalik-buterin-defends-recent-eth-sales-says-theyre-for-projects-and-charity","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/vitalik-buterin-defends-recent-eth-sales-says-theyre-for-projects-and-charity\/","title":{"rendered":"Vitalik Buterin defends recent ETH sales, says they\u2019re for projects and charity"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/08\/Vitalik-Buterin-defends-recent-ETH-sales-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/08\/Vitalik-Buterin-defends-recent-ETH-sales-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/08\/Vitalik-Buterin-defends-recent-ETH-sales-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/08\/Vitalik-Buterin-defends-recent-ETH-sales-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Vitalik Buterin clarifies ETH sales were for projects and charity, not profit.<\/li>\n<li>He held 325K ETH three years ago but now holds 240K ETH.<\/li>\n<li>Buterin has also defended Ethereum\u2019s support for DeFi amid criticisms from some in the space.<\/li>\n<\/ul>\n<p>Ethereum co-founder Vitalik Buterin has come out to address allegations surrounding his sales of Ether (ETH), clarifying that these transactions were not driven by personal profit but by a commitment to support Web3 projects and charitable initiatives.<\/p>\n<p>According to a recent post by on-chain analytics firm Lookonchain, Buterin has reduced his ETH holdings by 85K ETH ($209M) in 3 years.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">3 years ago, <a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\">@VitalikButerin<\/a> mentioned he held 325K <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>($1.46B at the time), when the price of <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> was $4,500.<\/p>\n<p>Now he holds 240K <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>($592M).<\/p>\n<p>He has reduced his holdings by 85K <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>($209M) in 3 years. <a href=\"https:\/\/t.co\/LG2bZcvd4A\">pic.twitter.com\/LG2bZcvd4A<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1829576967894815191?ref_src=twsrc%5Etfw\">August 30, 2024<\/a><\/p>\n<\/blockquote>\n<p>The most recent is the transfer of 800 ETH worth over $2 million to a multi-sig wallet. Lookonchain highlighted that the same wallet address had received 3,000 ETH from Buterin on August 9, fueling concerns about the motives behind Buterin\u2019s sales.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">vitalik.eth(<a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\">@VitalikButerin<\/a>) transferred 800 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>($2.01M) to a multisig wallet again 40 minutes ago.<\/p>\n<p>The multisig wallet swapped 190 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> for 477K <a href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$USDC<\/a> later.<\/p>\n<p>On Aug 9, <a href=\"https:\/\/twitter.com\/hashtag\/Vitalik?src=hash&amp;ref_src=twsrc%5Etfw\">#Vitalik<\/a> also transferred 3,000 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>($8.04M) to this multisig wallet.<a href=\"https:\/\/t.co\/81Vf39bvbL\">https:\/\/t.co\/81Vf39bvbL<\/a> <a href=\"https:\/\/t.co\/6IlwtcqvPg\">pic.twitter.com\/6IlwtcqvPg<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1829407124520374565?ref_src=twsrc%5Etfw\">August 30, 2024<\/a><\/p>\n<\/blockquote>\n<h2>Vitalik Buterin denies selling ETH for profit<\/h2>\n<p>In response, Buterin firmly denied any allegations of selling ETH for personal profit. He clarified that he has not sold any Ether for personal financial gain since 2018. Instead, he explained that his ETH sales were intended to support various Web3 projects and philanthropic endeavours.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I haven&#8217;t sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the ethereum ecosystem or broader charity (eg. biomedical R&amp;D)<\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1829801352500801538?ref_src=twsrc%5Etfw\">August 31, 2024<\/a><\/p>\n<\/blockquote>\n<p>Buterin\u2019s statement aims to underscore his longstanding commitment to using his resources for the advancement of important causes rather than personal enrichment.<\/p>\n<h2>Supporting Ethereum and DeFi<\/h2>\n<p>Buterin\u2019s statements also touch upon his stance regarding decentralized finance (DeFi) and the broader Ethereum ecosystem. He has come under fire for <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a> allegedly not sufficiently supporting DeFi.<\/p>\n<p>Kain Warwick, the inventor behind the concept of yield farming, and Milli\u039e a crypto philosopher criticized Buterin for his perceived lack of emphasis on DeFi.<\/p>\n<p>However, Buterin defended Ethereum\u2019s role in DeFi and his position stating that he thinks \u201cDEXes are great, and I use them every week.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The kinds of applications that I want to see are applications that are (i) useful in a sustainable way, and (ii) don&#8217;t sacrifice on the principles (permissionlessness, decentralization, etc)<\/p>\n<p>I think DEXes are great, and I use them every week.<\/p>\n<p>I think decentralized stablecoins\u2026<\/p>\n<p>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1827583576751181961?ref_src=twsrc%5Etfw\">August 25, 2024<\/a><\/p>\n<\/blockquote>\n<p>Buterin\u2019s defence reflects his commitment to ensuring that Ethereum continues to support meaningful and sustainable developments within the blockchain space. He has consistently advocated for the importance of long-term value over temporary gains, reinforcing his position that the Ethereum network should remain focused on foundational principles rather than transient trends.<\/p>\n<p>By addressing these allegations and defending Ethereum\u2019s role in DeFi, Buterin reaffirms his commitment to the broader vision of a decentralized and impactful digital future.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/vitalik-buterin-defends-recent-eth-sales-says-theyre-for-projects-and-charity\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Vitalik Buterin clarifies ETH sales were for projects and charity, not profit. He held 325K ETH three years ago but now holds 240K ETH. Buterin has also defended Ethereum\u2019s support for DeFi amid criticisms from some in the space. Ethereum co-founder [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":37002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37001"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=37001"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/37001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/37002"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=37001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=37001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=37001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}