Vitalik Buterin has not sold or kept proceeds from L2 tokens since 2018, instead donating them to Ethereum-related or broader charitable causes.
Buterin does not plan to invest in L2 tokens or other project tokens, focusing instead on supporting valuable public goods.
His past donations include over $1 billion to India’s Covid relief fund and 50 ETH for Turkey earthquake relief.
Vitalik Buterin, co-founder of Ethereum, has addressed speculation about his involvement with Layer 2 (L2) tokens and clarified his stance on the matter.
Buterin openly stated on X that any profits he makes from L2 tokens or other project tokens are given to public good in the Ethereum ecosystem or other charitable causes. He emphasized that he has neither sold nor kept any profits from those tokens since 2018.
https://twitter.com/WuBlockchain/status/1831895879500075102 Plans for L2 Tokens
The statement followed a comment from a user regarding the overall view on cryptocurrency founders selling their investments. The user proposed that founders have the right to receive profits from their projects, especially considering the major influence they have had.
Buterin rejected the idea of making money for himself, explaining that his objective in funding projects is to encourage meaningful contributions to the ecosystem, particularly in areas that others may not appreciate.
Buterin stated that he has no plans to invest in L2 or other token projects soon, highlighting his dedication to using his assets for the progress of Ethereum and charitable causes.
Previous charitable donations
Buterin has a reputation for being very generous in the cryptocurrency industry. In 2021, he made headlines for donating more than $1 billion in Shiba Inu tokens to India’s Covid-Crypto Relief Fund, showcasing his noteworthy charitable contributions. Furthermore, he contributed essential financial assistance to those affected by the Turkey earthquake in 2023 by giving 50 ETH to relief groups.
Vitalik Buterin's opinion on Layer 2 tokens mirrors his overall belief in utilizing cryptocurrency for the common good instead of individual profit.
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