Ethereum Co-Founder Defends ETH Sales Amid Community Criticism

Vitalik Buterin Addresses Concerns Over Ethereum Foundation’s ETH Sales

Community Upset Over Continuous Ether Sales

Vitalik Buterin, the co-founder of Ethereum, has responded to criticisms regarding the ongoing sales of ETH by the Ethereum Foundation. Despite previous explanations that the sales were not for personal profit, community members remain skeptical of the Foundation’s actions.

Buterin Responds to Critics

Stash of ETH Grows, Despite Community Concerns

In a recent reply to a comment about the impact of his ETH sales on the market, Buterin clarified that he had not sold any Ether in the past month. On-chain data also supports his claim, showing an increase in his Ethereum holdings to 240,094 ETH, valued at over $600 million.

Foundation’s ETH Sales for Operational Costs

When questioned about the Ethereum Foundation’s frequent ETH sales, Buterin explained that the funds were necessary to cover operational expenses, including developer salaries crucial to the ecosystem’s maintenance. He called for understanding and respect for the Foundation’s financial decisions.

Explanation on Foundation’s Staking Strategy

Foundation’s Approach to Staking and Hard Forks

Buterin elaborated on why the Ethereum Foundation does not stake all its ETH, citing the need to avoid conflicts during contentious hard forks. He also mentioned plans to delegate staking responsibilities to multiple organizations to prevent centralization.

Future Plans for Ethereum Network

In recent discussions, Buterin has highlighted Ethereum’s roadmap towards scalability and decentralization. Emphasizing the network’s progress over the past decade, he continues to advocate for future developments and enhancements.