Buterin Responds to ETH Sale Rumors: Foundation Paying for Development Efforts
In a recent X thread, Ethereum co-founder Vitalik Buterin denied rumors that he had sold any ETH in the previous month.
I haven’t sold a single ETH in the past month. The amount of ETH I hold has actually gone up.
Buterin
In response to claims that the Ethereum Foundation has been “dumping” on the market, Buterin said that the funds it transfers are necessary to compensate key researchers and engineers.
Bro the ETH foundation is paying researchers and devs,
Buterin
Buterin stated in an X post that “show some respect” after listing nine duties for paid staff.
Buterin Addresses Concerns: Ethereum Foundation’s $94M ETH Transfer to Kraken Explained
He made these remarks as public pressure on Buterin and the Ethereum Foundation increased following the latter’s August transfer of $94 million worth of Ethereum to the controlled exchange Kraken as part of its treasury management operations. However, in a subsequent post, Buterin clarified that the Foundation was not dumping all $94 million in Ethereum at once by transferring it to Kraken. Rather, the Foundation is attempting to lessen its influence on the market by implementing strategies like limit orders, he says.
When asked why the Foundation doesn’t stake its Ethereum holdings and cover expenses with the money generated from them, Buterin responded that the Foundation is avoiding this since it could eventually cause problems for the organization’s impartiality.
We don’t want to be in the situation of being forced to make an ‘official choice’ in the event of a contentious hard fork,
Buterin
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