Altcoin
Here’s the List of Altcoins Vitalik Buterin Plans to Donate
Ethereum’s co-founder Vitalik Buterin announced that he will donate proceeds from his layer 2 projects to projects within the network’s ecosystem and wider charitable causes. This comes after some users raised questions on recent crypto transfers. Buterin revealed that going forward, he plans to support projects with donations rather than investments.
Vitalik Buterin to Layer 2 Proceeds
Vitalik Buterin revealed that he will donate proceeds of the layer 2 project or other token projects to the public good within the Ethereum ecosystem or wider charities. This sparked speculations on the amount of altcoins the Ethereum executive intends to donate. Several crypto users flagged financial activities around the between accusing Buterin of dumping the asset for personal gains.
In his response, he denied taking proceeds from sales since 2018 and stated that all sales were made to support projects he believed to be valuable. “I haven’t sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (eg. biomedical R&D).”
He noted that the donation will apply to all layer2 tokens he holds adding that he will not be investing in those projects but will with donations, especially in cases where the wider market might undervalue those projects. Looking at his holdings, it appears the Ethereum co-founder might donate Optimism (OP), Starknet (STRK), and Blast (BLAST) among others.
A Move To Address Community Concerns
Among the reasons for the donations, Vitalik Buterin explained that it would set an example and increase confidence among users. This goes to show that he is not a part of some plot to twist the network that drives benefits to him.
Some users suggested that it would be better to invest in tokens and use the profits towards the community. In his response, he maintained that the donations could attract commitments to the ecosystem and humanity. Last week, Buterin denied selling ETH despite a decline in his holdings.
There are other options to get leverage out of giving money, eg. it can be in exchange for commitments to be positive-sum toward ethereum and/or humanity in some specific ways, and the value of that commitment can easily be greater than 0.14% of a company.
But the bigger-picture…
— vitalik.eth (@VitalikButerin) September 5, 2024
David Pokima
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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