Founder Ethereum Vitalik Buterin responded to allegations regarding the ETH token sales that he and the Foundation Ethereum have been carried out repeatedly this year to obtain fiat funds.
Blockchain data analysis indicates periodic ETH movements from the Foundation's wallet Ethereum For example, on October 15, the fund sold ETH worth about $258000.
According to blockchain analytics platform Lookonchain, the Fund has been in operation since January Ethereum sold ETH worth more than $11 million. Thus, a week before the above transaction, the fund transferred ETH worth about $3,03 million to the exchange Bitstamp .
These sell-offs are causing concern among market participants, especially because they often coincide with ETH bullish rallies. Vitalik Buterin personally participated in the sales: last month, more than $3,17 million worth of ETH was sold from a wallet associated with him.
Some in the crypto community believe that Buterin and the Foundation's sales Ethereum affect the sluggish dynamics of ETH. As a result, many have repeatedly called on Buterin to “stop selling ETH.”
Today, Buterin responded to these accusations, stating that he has not sold any ETH tokens in the past month and even noted that his ETH holdings have grown.
One of Buterin's subscribers asked for clarification on the situation with the Foundation Ethereum , which sold more than $3,3 million worth of tokens this month.
Buterin explained that the Foundation Ethereum funds researchers and developers responsible for a number of important network improvements: switching to PoS, keeping transaction fees low and ensuring transactions are processed in less than 30 seconds, etc.
The foundation is also working on zk technologies that allow ETH to be used privately, such as with zk-railway. They are also developing account abstraction technology that allows regular users to safely interact with ETH without the need for seed phrases and the risks of centralized points. The foundation organizes local events to promote Ethereum around the world.
Buterin also noted that Ethereum has not had a single downtime due to DoS attacks or consensus failures since 2016. The foundation runs various security initiatives, including development incentives and grants, which have helped prevent numerous losses of funds. Finally, it provides libraries that support various coding needs, such as wallets and DeFi -applications. All of this is spent on funds from the sale of ETH.
In light of this, Buterin called on community members to respect the Foundation's efforts rather than criticize it for its sales.
