Ethereum co-founder Vitalik Buterin has responded to claims that he has sold any ETH in the past month, stating in a recent Twitter thread that he has not sold any ETH and that the amount of ETH he holds has actually increased.
Buterin also addressed allegations that the Ethereum Foundation has been ‘dumping’ on the market, clarifying that the movement of funds is to compensate essential researchers and developers. In a Twitter post, he emphasized the importance of respecting the work being done by the Foundation.
His remarks come as public pressure mounts on Buterin and the Ethereum Foundation, following the transfer of $94 million worth of Ethereum to the centralized exchange Kraken in August for treasury management activities. Buterin explained that the transfer does not mean the Foundation is dumping the entire $94 million of ETH at once, but rather employing strategies like setting limit orders to reduce market impact.
In response to inquiries about why the Foundation does not stake its ETH holdings and use the revenue generated, Buterin highlighted concerns about neutrality in the face of potential contentious hard forks. He suggested that instead of staking, the Foundation could provide Ethereum grants to recipients who can stake the holdings as they see fit, slowing down the selling process while incentivizing recipients to earn staking yields.
The idea of spreading power across multiple organizations to enhance decentralization in the crypto space was also proposed by Buterin, though he acknowledged that this is currently theoretical.
