Ethereum co-founder Vitalik Buterin recently clarified in a statement the reasoning behind his most recent Ethereum (ETH) sale, which generated debates among the crypto community.
Buterin claims that an “automatic cowswap twap order” made on August 29 kicked off the September 11 sales. Lookonchain reports that this transaction involved a wallet associated with Buterin selling 190 ETH for $441,971 USDC.
Buterin stressed that this was the last Ethereum sale he had scheduled, therefore upholding his pattern of avoiding token sales for personal benefit. Reports earlier today revealed that Buterin paid the Aave protocol, a distributed finance (DeFi) network, 2.27 million USDC—earned from past ETH purchases over the last two years.
Ethereum Supports Initiatives
Buterin has been steadfast in his denial of selling any tokens for personal gain since 2018, underscoring his dedication to using his assets for organizations connected to blockchain and biotech. Well-known for his moral behavior, Buterin has avoided funding certain layer-2 projects, claiming his aim is to be neutral in the ecosystem.
Apart from clarifying his financial actions, the 30-year-old Canadian programmer presented fresh rules for Ethereum-based initiatives on a social media post. Buterin said he will only support initiatives that have attained “Stage 1” status, which calls for an update system, a security council capable of superseding fraud-proofs, and an operational fraud-proof system.
Buterin contends that security and sustainability inside the Ethereum ecosystem depend on these higher requirements. “Gone are the days when rollups can just be ‘glorified multisigs,’ Buterin said, pointing out that more exact standards are now in place for blockchain developments.”
Buterin, who makes $139,500 a year from the Ethereum Foundation, has long been a prominent advocate of more robust security policies and openness in blockchain evolution. His recent emphasis on higher standards reflects his vision of a more dependable and strongly distributed scene.
