Ethereum co-founder Vitalik Buterin defended the Ethereum Foundation’s constant ETH sales and called for some respect amid growing community concerns.
Buterin once again responded to growing community backlash against his and his foundation’s continued sales of Ethereum.
Notably, he made it clear to users several months ago that he was not selling Ethereum for personal profit, but enthusiasts still believe that sales from him and his foundation are be critical of
Buterin defends Ethereum Foundation
In response to Buterin’s Ta.
Buterin responded that he had not sold any Ether in the past month. Moreover, as enthusiasts noted, the second-largest crypto stash is increasing rather than decreasing.
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Notably, on-chain analysis backs up Buterin’s claims, with Arkam showing that his Ethereum stash has increased by almost 1,000 ETH to 240,094 ETH (valued at $602.5 million). It is worth mentioning that Ethereum accounts for 97% of Buterin’s entire on-chain portfolio.
Following this comment, another user asked Buterin about the Ethereum Foundation’s constant sales. For context, an address associated with the foundation sold 2,500 ETH ($6.06 million at the time) a few weeks ago, one of many recent transfers to external wallets and exchanges.
However, Buterin said the Ethereum Foundation sold assets to meet operating costs. He argued that the company needs to compensate developers who play an important role in maintaining the ecosystem, and called for some appreciation and respect for the Ethereum Foundation.
Buterin explains why Ethereum Foundation won’t stake
The co-founder further explained why the Ethereum Foundation will not stake all its ether. He noted that the organization does not want to be in a position where it has to make choices in the event of a contentious hard fork.
Buterin further pointed out that the only way a foundation can stake Ethereum is by offering its stash to another organization on its behalf.
Buterin also said the foundation is considering expanding its delegation to multiple foundations to prevent the concentration of Ethereum in one organization, which could lead to centralization of staking.
Buterin, on the other hand, has been in founder mode lately, constantly emphasizing the future potential of the Ethereum network.
According to previous reports, the co-founders highlighted milestones in blockchain’s decade-long existence, as well as revealed the next features on its roadmap towards enhanced scalability and decentralization.
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