Vitalik Buterin Denies Ethereum Dumping Allegations, Cites Support for Crypto Projects
Vitlik Butrin, th crtor of Ethereum, hs dnid th rcnt llgtions tht h sold significnt mounts of Ethr for prsonl profit. Lookonchin, blockchin nlytics firm rvld tht Butrin snt 800 ETH (pproximtly $2 million) to multisig wllt nd convrtd 190 ETH to USDC (round $477,000). Additionlly, Lookonchin, idntifid prvious trnsfr of 3,000 ETH from Butrins wllt on August 9th.
Ths movmnts sprkd spcultion within th crypto community, with mmbr on pltform X ccusing Butrin of dumping significnt mount of ETH. Howvr, Butrin hs clrifid his position, stting tht ny ETH sls wr solly to support vrious crypto projcts nd chritbl inititivs.
I hvnt sold nd kpt th procds sinc 2018, Butrin xplind. All sls hv bn to support vrious projcts tht I think r vlubl, ithr within th thrum cosystm or brodr chrity (g. biomdicl R&D).
Dt from Arkhm Intllignc shows significnt dcrs in his ETH possssion. Thr yrs go, h hld 325,000 ETH, vlud t $1.46 billion t th tim. Tody, his holdings stnd t pproximtly 240,171 ETH, worth round $594.47 million. From Butrins prspctiv, this dclin rflcts long-trm strtgy of supporting th Ethereum cosystm, not prsonl nrichmnt.
Th rvltion drw mixd rctions from th crypto community. Whil som xprssd undrstnding, othrs flt Butrin dsrvd to profit from his rly Ethereum invstmnts. On usr on pltform X commntd, Dont vn dfnd it; you dsrv th ycht, too.
This highlights th ongoing dbt surrounding cryptocurrncy foundrs profiting from thir crtions. Mny bliv ths individuls should b bl to rp th rwrds of thir rly involvmnt nd risk-tking.
Buterin Defends Ethereums Core Values
Byond th rcnt sl controvrsy, Butrin hs consistntly dfndd Ethereum ginst criticisms. H rcntly chllngd clims tht th blockchin dosnt cr bout dcntrlizd finnc (DFi).
Kin Wrwick, th invntor of yild frming, rgud tht Butrin dosnt hold n bsolutist viw of DFi nd is opn to rvlutions. On of th biggst things hs gottn wrong ovr th pst fiv yrs is th importnc of DFi, Wrwick sttd.
Howvr, Butrin hs mphsizd his commitmnt to building sustinbl pplictions tht lign with Ethereums cor principls of prmissionlssnss nd dcntrliztion. H xprssd dispprovl of projcts rlying on tmporry hyp for thir succss.
Howvr, Ethr xprincd significnt downturn in th pst wk, dropping by nrly 9%. As of writing, it is trding t $2,485, 1.45% dclin from th prvious dy. Crypto trdr EinstinBCH hs issud grim forcst for th cryptocurrncy, prdicting furthr pric drops.
Bsd on n nlysis of tchnicl indictors, EinstinBCH blivs tht ETH is currntly in brish trnd. This downwrd momntum could prsist for svrl dys or vn wks, dpnding on fctors lik trding volum nd mrkt nws. EinstinBCH stimts tht ETH could potntilly plummt to support lvl btwn $2,330 nd $2,270.
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Text source: TronWeekly
