Ethereum co-founder clarifies $2m ether sale was for charity

Ethereum co-founder Vitalik Buterin has addressed accusations that he sold over $2 million worth of ether for personal gain. In a response early Saturday, Buterin clarified that all sales of his crypto holdings were directed towards supporting charitable causes and various Web3 projects.

Buterin, stated on Twitter, now known as X: “I haven’t sold and kept the proceeds since 2018,” explaining that his sales were intended to fund valuable initiatives, including those within the Ethereum ecosystem and broader charitable efforts such as biomedical research.

Despite his substantial personal net worth of over $1 billion, Buterin emphasised his commitment to creating value through technology rather than wealth accumulation. His philanthropic efforts include significant contributions during the COVID-19 pandemic, where he was the largest donor to the CryptoRelief India Fund, and recent donations of half a million dollars to an animal welfare charity.

Social media users have urged Buterin to benefit from his success, but he has remained focused on using his resources for societal improvement.