đ„đ„đ„ #VitalikButerin Pledges #L2 Tokens to Support Public Goods in the Ethereum Ecosystem
Ethereum Co-Founder Vitalik Buterin Pledges to Donate All Layer 2 Tokens to Support Public Goods
Ethereum co-founder Vitalik Buterin has committed to donating all Layer 2 (L2) tokens he holds, including those not yet liquid, to support public goods within the Ethereum ecosystem or other charitable causes. This pledge follows accusations that he had sold millions in Ether (ETH) for personal gain.
Vitalik Buterin Denies Profit Motive
Buterin quickly responded to these allegations, clarifying that he has not sold any ETH for personal profit since 2018. He emphasized that the proceeds from his ETH sales have been directed toward projects that benefit the Ethereum ecosystem or charitable initiatives.
In a September 5 update, Buterin further explained his decision to donate all L2 tokens, stressing that his goal is to support projects he deems valuable, particularly those that may not yet be fully appreciated by other parts of the ecosystem.
The Allegations
On August 30, an X user accused Buterin of selling over $2 million worth of ETH shortly after sharing a positive update on Ethereum's future. Blockchain data from Lookonchain revealed that Buterin had transferred 800 ETH (worth about $2 million) to a multi-signature wallet, which later swapped 190 ETH for 477,000 USDC. Additionally, on August 9, Buterin reportedly moved 3,000 ETH, valued at over $8 million, to the same wallet.
These transfers sparked speculation that Buterin was liquidating his holdings for profit. However, Buterin had previously disclosed that his ETH holdings originated from the Ethereum pre-mining period, where early contributors were allocated 11.9 million ETH (about 10% of the total supply). As one of these contributors, Buterin received 700,000 ETH.
Blockchain tracker Arkham Intelligence estimates that Buterin currently holds approximately 240,000 ETH, a reduction of around 460,000 ETH from his original stash.
Source - cryptopotato.com
