Ethereum co-founder Vitalik Buterin has announced that he will donate all proceeds from his crypto holdings. In a post on X, Buterin stated that he will donate all proceeds from his crypto holdings, including those from Ethereum and Layer 2 tokens.
“All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D),” he wrote.
In a passionate commitment, the Ethereum co-founder also vowed not to invest in any Layer 2 projects in the “foreseeable future.”
“I also do not intend to invest in L2s or other token projects in the foreseeable future. My goal with giving projects money is to support things that I think are valuable, especially in cases where other parts of the ecosystem might undervalue them. Going forward, I plan to just do this with donations,” he added.
Buterin, who was listed by the Times Magazine in the top 100 most influential people in 2021, has recently faced criticism after being accused of selling Ether tokens for profit. The allegations were made by an on-chain data analytics company Lookonchain. On August 9, Lookonchain posted on X, accusing Buterin of selling over $2 million worth of Ether tokens after he allegedly made a bullish tweet. Lookonchain claimed that Buterin had transferred 3,000 ETH following the tweet on August 9.
In response, Buterin dismissed these allegations, asserting that he has not sold crypto for “personal gains” since 2018. He stated that all his crypto proceeds have been used to either support other projects or for donations.
While the larger community rallied in support of Vitalik, it appears that the allegations have affected him.
