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Ethereum co-founder Vitalik Buterin revealed plans to donate all proceeds from Layer 2 (L2) and related project tokens that he holds. His interest lies in supporting public goods within the Ethereum ecosystem or charitable activities. Buterin’s recent transactions have come under scrutiny with varied opinions between sales and donations. Vitalik Buterin Supports Growth The Ethereum executive’s remarks stemmed from discussions about founders’ interactions with their projects’ tokens. More precisely, his Ethereum transactions over the past weeks raised concerns about whether he was selling ETH. Buterin denied keeping proceeds from any sales over the past six years. He said all profits go toward supporting value-adding projects within Ethereum’s ecosystem and beyond. “BTW the above also applies to L2 tokens or other project tokens I hold (incl not-yet-liquid): all proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g. biomedical R&D),” Buterin explained. Further, Buterin does not intend to invest in L2s or other projects any time soon, committing to supporting undervalued projects. His chosen approach to empower these projects is through donations. Indeed, Buterin has made multiple donations recently. BeInCrypto reported that some of them were sent through Multisig wallets, as traced on Etherscan. Read More: How To Donate Crypto Using The Giving Block Vitalik Buterin Crypto Holdings. Source: Arkham Among Buterin’s most outspoken donations include 100 ETH (valued at $300,000 at the time) in support of the 2077 Collective, a group dedicated to promoting Ethereum adoption. The Russo-Canadian innovator also donated 30 ETH to the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm in May. Meanwhile, Buterin’s move to sidestep L2 investments should not be considered an action against the increasingly popular scaling solutions. He challenged attacks against Ethereum’s L2s barely a week ago amid allegations from cyber security experts that the network’s…

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Filed under: News - @ September 6, 2024 12:21 pm