Saad Ullah
Vitalik Buterin, Ethereum's co-founder, has clarified that he hasn't sold ETH for personal gain since 2018, addressing recent speculation surrounding his ETH holdings.
Vitalik Buterin's ETH Holdings: A Clarification
In response to circulating rumors about his ETH transactions, Buterin tweeted, "I haven't sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (e.g., biomedical R&D)." This statement was meant to clarify that his ETH sales are not motivated by personal financial gain but are instead directed towards causes he deems worthy of support.
Adding to this, Wu Blockchain reported Buterin’s comments on Warpcast, where he further elaborated on the nature of his ETH transactions. Buterin explained that when articles report on ETH being sent to exchanges from his wallet, it is often misconstrued as him selling his assets. In reality, these transactions typically involve donations to charities, nonprofits, or other projects, with the recipients then selling the ETH to cover their expenses. "I haven't 'sold' ETH for personal gain since 2018," Buterin reiterated, dispelling any misconceptions.
Historical Context: Buterin's Initial ETH Holdings
Vitalik Buterin's ETH holdings have long been a topic of interest within the crypto community. As referenced by Wu Blockchain, Buterin mentioned on Reddit about three years ago that his ETH stash originates from the premise phase, during which he received approximately 700,000 ETH. This allocation was part of the nearly 12 million ETH generated at Genesis, which accounted for about 10% of the network's total supply. These funds were reserved for early contributors to Ethereum and the Ethereum Foundation, a nonprofit organization overseeing Ethereum's development.
According to on-chain data, Buterin's current ETH holdings stand at around 240,000 ETH. This represents a significant reduction from his initial stash, with approximately 423,000 ETH less than he initially received. On-chain data provider Lookonchain speculates that Buterin has reduced his holdings by nearly 85,000 ETH, valued at $209 million, over the past three years. Three years ago, when ETH was priced at $4,500, Buterin held 325,000 ETH, worth $1.46 billion. The reduction to 240,000 ETH marks an 85,000 ETH decrease in his holdings during this period.
Conclusion
Vitalik Buterin’s recent clarifications regarding his ETH holdings shed light on his commitment to using his wealth for the greater good rather than personal enrichment. His decision to allocate ETH sales to support meaningful projects and charitable causes underscores his dedication to the Ethereum ecosystem and broader humanitarian efforts. As on-chain data continues to track his ETH transactions, it remains clear that Buterin's influence on Ethereum and the wider crypto space is driven by a mission beyond mere financial gain.
Saad Ullah
