Ethereum Co-Founder Speaks Out on Recent Sale of ETH
Ethereum’s co-founder, Vitalik Buterin, recently spoke out about his sale of Ethereum (ETH), attributing it to an “automatic cowswap twap order.” Buterin clarified that this order was set up back on Aug. 29 and emphasized that this sale marked his final one.
On Sept. 11, a wallet associated with Buterin conducted a transaction selling 190 ETH for 441,971 USDC, as reported by Lookonchain. Subsequently, it was disclosed that Buterin had deposited the 2.27 million USDC tokens acquired from ETH sales spanning two years into the Aave protocol.
In the past, Buterin had refuted claims of selling tokens for personal gain since 2018. His recent social media post also advocated for more stringent ecosystem standards. Going forward, Buterin will only recognize “stage 1” projects that possess “limited training wheels,” necessitating a functional fraud-proof system. Additionally, such projects must have a security council capable of overriding fraud-proof mechanisms and an upgrade mechanism, according to Buterin.
The Ethereum co-founder described this as a “very reasonable” milestone, signaling the end of the era where rollups were considered “glorified multisigs.” Buterin’s stance underscores a shift towards more robust project standards within the ecosystem.
The 30-year-old programmer’s statements reflect a broader trend towards enhancing security and reliability within the cryptocurrency space. Buterin’s insights shed light on the evolving landscape of digital assets and the importance of establishing secure frameworks for sustainable growth.
