Ethereum co-founder Vitalik Buterin has been in the news due to repeated ETH sales from a wallet linked to him, totaling 950 ETH.
Buterin made major ETH transfers to a multi-sig wallet in August, raising concerns among investors who anticipated that Ethereum’s market value might fall further. The multi-sig wallet subsequently swapped 190 ETH for USDC, prompting widespread condemnation from the community.
Some accused Buterin of “dumping” ETH while keeping a bullish view, saying this would harm ETH’s market value. However, some investors backed Buterin, arguing that occasional profits are not rare.
Buterin underlined that the sales were not for personal gain but rather to support numerous projects in the Ethereum ecosystem and larger philanthropic reasons.
New concerns arose after on-chain data revealed another 190 ETH sales in early September. According to reports, Buterin’s multi-sig sold 950 ETH in a succession of smaller transactions spaced a few days apart, creating new suspicions about the timing and motives of the sales.
Buterin explained that the recent transactions were part of an automated order placed by a bio-defense group he supports, and he promised the community that this was the final sale of its kind for the time being.
