Vitalik Buterin Clarifies the Reason Behind His Latest Ethereum (ETH) Sale

Ethereum co-founder Vitalik Buterin has clarified the reason behind his latest Ethereum (ETH) sale, which caused a stir in the crypto community.

Ethereum co-founder Vitalik Buterin has provided further insight into his recent Ethereum (ETH) sale, which saw 190 ETH sold for 441,971 USDC on September 11.

According to blockchain analysis firm Lookonchain, the transaction was part of a broader strategy, as confirmed by Buterin, who stated that this was the last Ethereum sale tied to the particular order.

Buterin set up an automatic cowswap TWAP order on August 29, which triggered the sale of 190 ETH. Blockchain data also reveals that Buterin has been gradually selling ETH over the past two years, collecting 2.27 million USDC from these sales, which he recently deposited into the Aave protocol.

The crypto community has been closely monitoring this steady offloading of Ethereum, but Buterin has been transparent about his actions throughout.

In response to questions about the recent sale, Buterin clarified that these transactions are not for personal profit. He has previously stated that he hasn’t sold any tokens for personal gain since 2018, and his latest sale is part of his broader strategy for managing his Ethereum holdings.

Buterin’s statement was likely intended to address any potential concerns about his role within the Ethereum ecosystem, and the transparency surrounding the sale helped prevent any unfounded speculation regarding the future of Ethereum.

During the community call, Buterin also highlighted the need for stricter standards across the Ethereum ecosystem, stating that projects should meet “stage 1” criteria, which includes having a fraud-proof system, a security council, and an upgrade mechanism to ensure accountability.

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