Vitalik Buterin Affirms Holding Ethereum Since 2018 to Back ETH Projects and Charity
Ethereum’s founder, Vitalik Buterin, has clarified that he has not engaged in any personal sales of ETH for the past six years, unless the proceeds were directed towards charitable causes or supporting projects within the Ethereum ecosystem. Dismissing rumors suggesting otherwise, Buterin emphasized that his ETH sales were not for personal profit but rather to back projects he deems valuable, both within Ethereum and broader charitable endeavors such as biomedical research and development.
Highlighting the Ethereum Foundation’s commitment to supporting ecosystem projects, Buterin noted that grants totaling $8.4 million were awarded to such projects in the last quarter. Additionally, Buterin recently endorsed several crypto ventures, including Polymarket, a crypto betting platform, as well as stablecoins USDC and RAI.
In a recent statement, Buterin expressed his stance on decentralized finance (DeFi) protocols, emphasizing the importance of maintaining decentralization and permissionless attributes. He stressed the need for DeFi projects to demonstrate sustainability without compromising these core principles. Buterin specifically called out business models reliant on liquidity farming, cautioning that they may not be viable in the long term.
Addressing unsustainable practices in the crypto space, Buterin voiced his reservations about short-term trends, citing the lack of long-term viability in certain token issuances. He highlighted his lack of enthusiasm towards the liquidity farming trend in 2021, attributing its appeal to temporary factors with no lasting sustainability.
Currently, the second-largest digital asset, Ethereum, is trading at $2,437, reflecting a 1.27% decrease over the past 24 hours. Buterin’s steadfast commitment to supporting valuable projects within the Ethereum ecosystem and his cautious approach towards unsustainable crypto practices underscore his dedication to fostering a sustainable and robust crypto landscape.
