Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem
The post Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem appeared on BitcoinEthereumNews.com.
Ethereum co-founder Vitalik Buterin has pledged to donate all Layer 2 (L2) tokens he holds to support public goods within the Ethereum ecosystem or broader charitable causes. This announcement comes a few days after accusations that he had sold millions in Ether (ETH) for personal gain. Vitalik Buterin Denies Profit Motive Buterin was quick to respond to the allegations, emphasizing that he has not sold any ETH for personal profit since 2018. Instead, he clarified that any proceeds from his ETH sales have been directed toward projects that contribute to the Ethereum ecosystem or other charitable initiatives. In a September 5 update, he expanded on his stance, pledging to donate all L2 tokens he holds, including not-yet-liquid assets, to support similar causes. He wrote, “All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future.” He explained that his aim in funding projects is to support initiatives he believes are important, particularly in situations where other parts of the ecosystem may not fully recognize their value. The Allegations On August 30, an X user accused him of selling over $2 million worth of ETH shortly after posting a positive update about Ethereum’s future. Later on, Lookonchain also revealed that Vitalik had transferred 800 ETH, worth around $2 million, to a multi-signature wallet. Shortly after, the wallet swapped 190 ETH for 477,000 USDC. Further analysis from Lookonchain indicated that on August 9, he had moved an additional 3,000 ETH, valued at over $8 million, to the same multi-sig wallet. These transfers fueled speculation that the Ethereum co-founder was liquidating his Ether holdings to realize profits. Buterin had previously disclosed that his entire Ether holdings came…
Filed under: News - @ September 7, 2024 4:16 am