Vitalik Buterin has clarified that his sales of Ether (ETH) were not motivated by personal gain but aimed at supporting Web3 projects and charitable causes. Recent data from Lookonchain shows Buterin has reduced his ETH holdings by 85,000 ETH, valued at $209 million over the past three years. Three years ago, Buterin held 325,000 ETH, worth $1.46 billion at the time, but now retains 240,000 ETH, worth $592 million.
The most recent transaction involved transferring 800 ETH, worth over $2 million, to a multi-signature wallet. This wallet had previously received 3,000 ETH from Buterin on August 9, raising questions about the reasons behind these sales.
In response, Buterin firmly denied the allegations of selling ETH for personal profit. He stated that he has not sold ETH for personal financial gain since 2018, emphasizing that all sales were to support valuable projects within the Ethereum ecosystem or charitable endeavors, such as biomedical research.
Buterin also addressed criticisms of Ethereum’s support for decentralized finance (DeFi). Despite some criticisms from figures like Kain Warwick and MilliΞ, Buterin defended Ethereum’s role in DeFi. He stated that decentralized exchanges (DEXes) are beneficial and that he uses them regularly. He emphasized that his goal is to support applications that are both sustainable and aligned with core principles like permissionlessness and decentralization.
Through these clarifications, Buterin underscores his dedication to using his resources for impactful causes and maintaining Ethereum’s commitment to long-term, meaningful advancements in the blockchain space.
