Vitalik Buterin Explains His Intent Behind Ethereum Transactions

Vitalik Buterin, co-founder of Ethereum, breaks his silence to clarify the intent behind his recent Ethereum transactions.

Discover why Buterin mostly donates his ETH rather than selling it, and what notable figures like Edward Snowden have to say about tracking individual crypto transactions.

Ethereum Co-Founder Clarifies: "Mostly Donations, No Selling Involved"

On October 17, 2023, Vitalik Buterin, co-founder of Ethereum (ETH), commented on reports concerning his ETH transactions, stating, "I have not sold any ETH for personal gain since 2018."

Transactions of virtual currencies like ETH can be traced on the blockchain.

This leads to periodic reports within the crypto industry that "so-and-so has transferred X amount of ETH to Y."

However, Buterin clarified in his recent post that his transfers are mostly donations to charitable organizations and projects, not sales.

A Regular Reminder

"When you read an article stating 'Vitalik has transferred XXX ETH to an exchange,' understand that I am not actually selling the ETH; I am mostly donating it to charitable organizations, non-profits, and other projects.

The recipients might sell it to cover expenses, but I have not sold any ETH for personal gain since 2018," he reiterated.

Previous Reports and Public Concerns

Reports have emerged several times regarding Buterin's ETH transactions.

In August of this year, it was reported that he "transferred ETH equivalent to $930,000 to Coinbase." As no explanations were provided at that time regarding the purpose of the transfer, some had expressed concerns that he might be selling his ETH.

However, this too is thought to not have been a sale.

Additionally, former CIA employee Edward Snowden commented this month on the trend of tracking individuals' cryptocurrency transactions, stating, "This is not normal and should not be accepted."