Vitalik Buterin refutes the claim of selling Ether for profit in a post

On Friday, August 30th, Lookonchain, a blockchain data tracker, reported that Buterin transferred 800ETH (worth about $2 million) to a multisignature (multi-sig) wallet. Shortly thereafter, the recipient address exchanged 190ETH for 477,000 USDC. This latest transfer prompted an encryption community member on X to accuse Buterin of ignoring comments on his recent ETH transfer. Subsequently, another encryption community replied that there is nothing wrong with Ethereum’s co-founder making some profit by reducing his holdings of ETH. However, Buterin responded to this supportive post on X, claiming that he did not sell any ETH for profit. He stated, “Since 2018, I have never sold and retained the proceeds. All sales have been used to support various projects that I consider valuable, whether within the Ethereum ecosystem or more broadly in charitable organizations (such as biomedical research).”