Ethereum co-founder Vitalik Buterin has denied accusations that he sold millions in Ether for personal profit. Buterin claims he only sold ETH to support crypto projects and charities.
On August 30, a user on X accused Buterin of dumping over $2 million worth of ETH after making a positive tweet about Ethereum. Lookonchain also reported that the wallet received 3,000 ETH from Buterin on August 9.
Source: Lookonchain
Buterin responded on August 31 to a post defending his right to profit from selling ETH he earned over seven years. He stated he hasn’t kept money from selling ETH since 2018. All sales, he says, went to “support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (e.g. biomedical R&D).”
Many community members backed Buterin, saying he deserved to profit from his work. One user wrote, “Don’t even defend it; you deserve the yacht, too.”
Buterin Defends Ethereum DeFi Vision Amid Criticism
Recently, Buterin defended Ethereum against claims it doesn’t care about decentralized finance (DeFi). Kain Warwick, who created yield farming, said Buterin isn’t always right, especially about DeFi. “One of the most critical things that he’s gotten wrong over the last five years is the importance of DeFi,” Warwick stated.
Buterin responded to a similar accusation, saying he wants to see valuable and lasting applications that follow Ethereum’s main ideas: being open to all and decentralized. He added that he doesn’t respect “things whose attractiveness comes from some temporary source with no sustainability.”
The Ethereum co-founder’s statements highlight his commitment to the platform’s long-term goals. He emphasizes supporting valuable projects and maintaining Ethereum’s core principles over personal gain. This stance aligns with his vision for Ethereum as a decentralized platform that serves a greater purpose beyond short-term profits.
Buterin’s actions and statements remain influential as the crypto world continues to evolve. His focus on sustainability and meaningful applications in the Ethereum ecosystem reflects a broader trend in the crypto space towards more purposeful and lasting innovations.
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