Ethereum co-founder Vitalik Buterin has responded to recent accusations that he sold large amounts of Ether (ETH) for personal gain. Buterin insists that any sales of his ETH were solely intended to support various Web3 projects and charitable causes, not for personal enrichment.
The controversy began on August 30 when a crypto enthusiast on X (formerly Twitter) alleged that Buterin had sold over $2 million worth of Ether after making a positive tweet about the cryptocurrency.
Onchain analytics firm Lookonchain further reported that Buterin’s wallet had transferred 3,000 ETH on August 9.
In a defence posted on August 31, Buterin clarified that he has not sold Ether for profit since 2018.
Instead, he explained that his sales have been aimed at funding valuable projects within the Ethereum ecosystem and supporting charitable efforts, such as biomedical research.
Buterin’s stance has been met with considerable support from the crypto community, with some users encouraging him to profit from his holdings if desired. “You deserve it; don’t even defend it,” one user commented.
Despite criticisms, Buterin has recently been vocal in defending Ethereum’s commitment to decentralized finance (DeFi).
He has responded to critiques suggesting that he undervalues DeFi, emphasizing his focus on creating sustainable and practical applications within the network while upholding Ethereum’s core principles of permissionlessness and decentralization.
