jakiro
Source: Blockchain Knight
Recently, Ethereum co-founder Vitalik Buterin responded to speculation and rumors about profiting from selling millions of dollars in ETH Crypto assets.
Buterin emphasized in his response,He sold his ETH only to support various Crypto asset projects and charity projects.
On August 30, an X user posted a lawsuit accusing Ethereum creator Vitalik Buterin, saying he sold more than $2 million worth of ETH shortly after sharing an optimistic post.
In fact, on-chain analysis company Lookonchain revealed that Buterin transferred 800 ETH to a multi-signature wallet that day, worth $2.01 million.The recipient then exchanged 477,000 USDC with 190 ETH.
Lookonchain also reported that the founders of Ethereum transferred 3,000 ETH (worth $8.04 million) to the same multi-signature address on August 9.
These transfers have sparked speculation that he has been selling his ETH inventory to make a profit, especially the second largest Crypto asset in the market, has risen by more than 175% since the 2022 cycle low of $880.
Another member of the Crypto asset community believes Buterin should make a profit by selling a large portion of the ETH tokens he has accumulated over the past seven years.
Buterin insists,He has not sold any ETH for personal gain since 2018.Instead, he transferred any proceeds from the sale to multiple projects he thought were valuable.
Vitalik Buterin posted on X on August 31: “I never sold and retained the proceeds. All sales are used to support various projects that I think are valuable, whether it is within the Ethereum ecosystem or the broader ones.Charity projects, such as biomedical research and development projects.”
Buterin responded to the incident and received overwhelming support from the Crypto world, with some members encouraging him to use some of his Ethereum assets for luxury consumption.
One X user suggested: “No need to justify, you deserve to be on the yacht”.
Buterin revealed three years ago that all his ETH storage came from the Ethereum mining period.
Of these 11.9 million ETHs (about 10% of the total network supply) were generated during the Genesis period and were reserved specifically for early project contributors to the Ethereum network.These early contributors included Buterin of Ethereum, who received 700,000 ETH as a reward for work.
Buterin currently holds about 240,000 ETH (worth about $1.06 billion), 460,000 less than his initial storage, according to Arkham Intelligence, a blockchain data tracking agency.
