Ethereum co-founder is selling millions worth of ETH.
Many Web3 users call him a Scammer, but in reality...
Let Me Explain...
Vitalik Buterin has been called SCAMMER last days...
This FUD is caused by his huge $ETH sales.
But what's true, and did Vitalik really sell $1B worth of ETH?
1/➱ Who is Vitalik?
He is a coder and co-founder of Ethereum.
He learned about BTC from his father at 17, which flipped his life around.
2/➱ First crypto interaction (2011)
He became involved with crypto early on its start, co-founding Bitcoin Magazine.
Bitcoin Magazine has been influential in the crypto space, providing insights and fostering discussions about the future of digital currencies.
3/➱ Idea of Ether (2013)
Buterin realized that the Bitcoin blockchain had limited functionality for building dApps.
This year, he proposed Ethereum, a blockchain with a built-in Solidity language that would allow devs to create smart contracts.
4/➱ Ether ICO (2014)
The Ethereum ICO started on July 20.
The initial price of ETH was set at approximately $0.3 per ETH.
During ICO, 60M $ETH were sold to early investors, totaling ~66.5% of the supply.
The ICO raised ~$18M making it one of the largest of its time.
5/➱ Ethereum launch (2015)
Ethereum officially launched its first version, "Frontier," on July 30.
This minimal release was aimed at developers for testing and building.
It provided foundational infrastructure for ETH network and enabled experimentation with smart contracts.
His Wealth
Vitalik Buterin became wealthy from his early role in creating Ethereum, earning a lot of $ETH at the start.
As the value of $ETH increased, his wealth grew a lot over time.
Right now his net worth is valued from $530M to $600M.
Recent FUD
FUD around Vitalik started from his $2M worth of $ETH sale.
Some accused him of negatively impacting $ETH price by selling large amounts of it.
One particular complaint was that Buterin avoided discussing these sales with the community.
He recently responded, explaining that these sales have been solely for funding projects he believes are valuable.
He clarified that these sales were not for personal gain but to support initiatives he finds important.
Also, he stated he will no longer invest in other projects, including Layer 2 tokens, to avoid conflicts of interest.
All funds from ETH sales will continue funding public goods like Ethereum projects and charitable causes, ensuring no personal profit.
FUDing the dev of a token with $270B MC for selling $2M worth of it, is just absurd.
Nowadays, the media is trying to cancel the most influential people in crypto, like Durov, CZ, and now Vitalik.
All I can say is filter out what info you receive and think with your own head.
