Vitalik Buterin Refutes Claims of Selling Ether for Personal Profit

Ethereum co-founder Vitalik Buterin has firmly denied allegations that he sold Ether (ETH) for personal profit. He clarified that any sales of his ETH holdings were intended to support various projects within the Ethereum ecosystem and broader charitable initiatives.

Key Takeaways

• Vitalik Buterin denies selling ETH for personal gain.

• Sales were made to support Web3 projects and charitable causes.

• Community members largely support Buterin's stance.

Allegations and Response

On August 30, a member of the crypto community accused Buterin of selling over $2 million worth of ETH 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, stating that he hasn't sold any ETH for personal gain since 2018. Instead, all sales were made to support Web3 projects and charitable causes.

Community Support

The crypto community largely supported Buterin's stance. Many users encouraged him to continue using ETH profits for positive causes. One user even suggested he "deserves the yacht" for his contributions.

Historical Context

Buterin has a history of using his ETH holdings to support various initiatives. In June 2023, he and Polygon's head, Sandeep Nailwal, pledged $100 million to COVID-19 research through the Kanro fund. In October 2023, Buterin revealed that he had not sold ETH for personal gain since 2018, emphasizing that any sales were for charitable or project support.

Recent Transactions

Recent onchain data showed significant transfers of ETH from Buterin's wallet. These transactions included 800 ETH, 200 ETH, and 400+50 ETH in the past few weeks. While some community members accused him of being a "double-dealer," Buterin clarified that these transfers were not for personal profit but to support valuable projects.

Ethereum and DeFi

Buterin has also defended Ethereum against claims that the blockchain neglects decentralized finance (DeFi). Kain Warwick, the creator of yield farming, criticized Buterin's stance on DeFi. However, Buterin emphasized his commitment to Ethereum's core values: permissionlessness and decentralization. He stressed the importance of creating sustainable and useful applications rather than chasing temporary trends.

Conclusion

Vitalik Buterin's recent statements and actions highlight his commitment to using his ETH holdings for the greater good. Despite facing allegations, he remains focused on supporting valuable projects and charitable causes, reinforcing his dedication to the Ethereum ecosystem and broader philanthropic efforts.

Sources

• Виталик Бутерин отверг обвинения в продаже своих ETH, ForkLog.

• Vitalik Buterin denies selling Ether for profit, Cointelegraph.

• Vitalik Buterin denies claims of selling ETH for Profits, The Crypto Times.

• Vitalik Buterin e il suo tesoro in Ethereum: perché "vende"? - Criptovaluta.it®, Criptovaluta.it.

• Vitalik Buterin negó haber vendido ETH con ánimo de lucro, Cointelegraph.