A wallet that received 3800 ETH from Ethereum co-founder Vitalik Buterin in August has sold over 950 ETH in the past few weeks. This situation has sparked controversy within the community.
Initial Fund Reception
According to Lookonchain, the wallet received approximately $9.8 million in ETH from Vitalik Buterin, co-founder of Ethereum. 3,000 ETH were transferred on August 9, with an additional 800 ETH added on August 30.
ETH Sale and Accusations
The wallet sold 190 ETH for $441,971 USDC on September 11. Previously, it had sold 760 ETH for $1.835 million USDC at an average price of $2,414 per ETH. In total, 950 ETH have been sold since August 30 for roughly $2.28 million.
Response and Context
The sale of ETH prompted accusations that Buterin was selling ETH for profit, but he denied these claims, stating that the funds were intended to support ecosystem development and charitable projects. In a post on X, Buterin noted: "All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity."
Amid this backdrop, the Ethereum Foundation has also executed several significant transactions over the past months, exerting downward pressure on the price of Ethereum, which is down 13% over the past 30 days.
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