Ethereum co-founder Vitalik Buterin has found himself at the center of controversy after allegations surfaced that he sold millions of dollars worth of Ether for personal profit. However, Buterin has vehemently denied these claims, stating that he only sold his ETH holdings to support various crypto projects and philanthropic initiatives.
The accusations against Buterin began on Aug. 30 when a member of the crypto community accused him of dumping over $2 million worth of Ether after making a bullish tweet. Onchain analytics firm Lookonchain further suggested that the same wallet address received 3,000 ETH from the entrepreneur on Aug. 9. These allegations sparked a heated debate within the crypto community, with some questioning Buterin’s motives for selling his ETH holdings.
In response to the accusations, Buterin took to X to defend his actions, stating that he has not sold any ETH for profit since 2018. He clarified that all sales of Ether were made to support various projects that he believes are valuable, either within the Ethereum ecosystem or in broader charitable endeavors such as biomedical research and development.
Buterin’s revelation garnered support from community members, with many encouraging him to sell ETH for profit without hesitation. One user on X even went as far as to say, “Don’t even defend it; you deserve the yacht, too.” This show of support highlights the trust and respect that Buterin commands within the crypto community.
In addition to addressing the allegations against him, Buterin has also been defending Ethereum against claims that the blockchain does not prioritize decentralized finance (DeFi). He has emphasized the importance of DeFi and the need for applications that are useful and sustainable while upholding the network’s core principles of permissionlessness and decentralization.
Despite the controversy surrounding him, Buterin remains committed to supporting the growth and development of the Ethereum ecosystem. His actions and statements reflect his dedication to advancing the blockchain industry and using his resources to make a positive impact on the world.