Ethereum co-founder Vitalik Buterin has dismissed claims that he sold millions of dollars’ worth of Ether (ETH) for personal profit. Responding to accusations from a crypto community member on X (formerly Twitter), Buterin clarified that his ETH sales were solely to support crypto initiatives and philanthropic efforts.
The controversy began on August 30, when Buterin was accused of offloading over $2 million worth of ETH following a bullish tweet. Blockchain analytics firm Lookonchain added fuel to the fire by suggesting that a wallet linked to Buterin had received 3,000 ETH on August 9. However, Buterin quickly set the record straight, emphasizing that he hasn’t sold Ether for personal profit since 2018.
Buterin reiterated that any ETH sales over the past years were intended to support meaningful projects within the Ethereum ecosystem or charitable causes such as biomedical research and development. “All sales have been to support various projects that I think are valuable,” he said.
The crypto community largely supported Buterin’s stance, with many urging him not to justify his actions. One user even commented, “Don’t even defend it; you deserve the yacht, too.”
Buterin also responded to criticisms regarding Ethereum’s stance on decentralized finance (DeFi). He underscored his commitment to useful and sustainable applications while maintaining the core principles of permissionlessness and decentralization. Buterin dismissed unsustainable trends, reaffirming his dedication to the long-term vision of Ethereum.
This latest exchange highlights Buterin’s ongoing efforts to clarify his position on Ethereum’s direction and his commitment to the broader crypto ecosystem and charitable causes.