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Vitalik Buterin Addresses Ether Sale Allegations
Ethereum co-founder
Vitalik Buterin has refuted claims suggesting he has been liquidating large quantities of Ether for personal profit. He clarified that any sales of his ETH tokens were intended to fund various cryptocurrency initiatives and charitable projects.
The Recent $2 Million ETH Transfer
On August 30, blockchain analytics platform Lookonchain
reported that Buterin transferred 800 ETH,
valued at approximately $2 million, to a multi-signature wallet. Shortly thereafter, this wallet exchanged 190 ETH for around 477,000 USDC.
This transaction followed another significant transfer on August 9 when Buterin moved 3,000 ETH (over $8 million) to the same multi-sig address. Such activity highlights the Ethereum co-founder's recent engagement with on-chain transactions.
Community Reactions and Clarifications
The latest transfer sparked discussions within the
crypto community on X, with one user accusing Buterin of disregarding feedback regarding his recent transactions. Another user suggested it would be reasonable for him to realize some profits from his
holdings.
In response to these comments, Buterin
stated that he has not sold any Ether for personal gain since 2018. He emphasized:
"I haven’t sold and kept the proceeds since then. All sales have been aimed at supporting valuable projects within both the Ethereum ecosystem and broader charitable causes (such as biomedical research and development)."
This clarification garnered further support from members of the online crypto community who encouraged him to consider indulging in some luxuries given his wealth.
An Insight into Buterin's Ether Holdings
A Reddit post from three years ago revealed that all of Vitalik's Ether holdings—approximately 11.9 million ETH at that time—originated from pre-mining activities; he received about 700,000 ETH during this phase.
Understanding Pre-Mining:
Pre-mining, similar to initial coin offerings (ICOs), involves rewarding founders and early investors with a portion of tokens before they are publicly available.
The Current State of His Holdings
According to blockchain intelligence firm Arkham, Vitalik currently possesses around 240,000 ETH valued at
approximately .06 billion—a decrease of about 423,000 ETH compared to what he initially received as an Ethereum co-founder.
The Market Context: Ethereum Price Trends
As it stands now, the price of Ethereum has dipped below $2,500—a decline of roughly 1.9% over the past day—and more than a ten percent drop over the last week according to CoinGecko data.
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Written by Elias Thalassos
https://futurex.solutions/heres-a-revised-slug-for-better-seovitalik-buterin-denies-ether-sale-claims/?feed_id=64&_unique_id=66d6278c07021
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