Vitalik Buterin: Persuading the Ethereum Foundation to sell $ 100 million ETH, and it is basically at the "highest point"

Ethereum co-founder Vitalik Buterin said that the Ethereum Foundation had previously sold 70,000 ETH, and that it was basically sold at "the highest point".

Figure Worm Creative -780949763142975551

Buterin said in a speech to podcast and managing director of Thiel Capital, Eric Weinstein:

"I did let the Ethereum Foundation sell 70,000 ETH, basically all sold at the highest point, and now our assets have doubled, so this is a good decision with a big impact."

Ethereum reached a high of $ 1,400 in January 2018. So if they sell at this price, 70,000 ETH will be worth $ 100 million.

Buterin himself sold 30,000 ETH at the end of December 2017. At that time, it was worth $ 22 million, which was basically at the highest level.

The Ethereum Foundation appears to have sold another $ 1.5 million worth of ETH over the past three months, and they have also stopped funding certain development teams.

This has caused some speculation that they may have depleted fiat money, but based on an annual expenditure of $ 20 million, they should have a lot of money.

Therefore, the outside world has raised a question as to why they don't fund some developers, including some long-term coders. Some people think that this is more a policy decision, because the Ethereum Foundation wants everyone to get funding through grant applications. To avoid distinguishing between internal and external teams.

The interviewer asked Buterin's feelings about its net assets plummeting as prices fell.

He said he was reassured because he believes that cryptocurrencies have not created enough value of $ 500 billion.

The interviewer then asked if he was short the market. Buterin said he was not short, but he convinced the Ethereum Foundation to sell a lot of ETH. He did not mention that he sold a lot of coins before the plunge, and that some other industry celebrities like Litecoin founder Charlie Lee cleared positions before the market plummeted.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

A number of exchanges will openly call the FATF proposal at the G20 opening meeting

The G20 summit of the G20, which everyone is paying attention to, will be held on June 28 and 29, 2019 in Osaka, Japa...

Bitcoin

Restoring the entire process of asset transfer: $6.02 million stolen from the DragonEX exchange

In the early morning of March 24th, Beijing time, the DragonEX exchange issued a notice stating that its platform dig...

Blockchain

After the delisting of FTX, Binance entered the options market, why did it choose the "American option" that is different?

Binance has been very eye-catching recently, withdrawing its own FTX tokens and preparing to launch new businesses su...

Policy

🚀 FTX Claims Reach for the Sky: AI Investments Boost Recovery Potential

FTX's investment in AI companies has significantly increased their potential recovery during their bankruptcy procedu...

Blockchain

Regulatory throat, BitMex distress: Can the "king of leverage" survive the crisis?

文|武旭升 Edit|嚯嚯 On August 1, Arthur Hayes, the BitMEX CEO who was suspected t...

Market

Latest Interview with Zhao Changpeng: Being "Under the Microscope" of Regulation, Market is Recovering in Bearish Period

On May 29th, Binance CEO Changpeng Zhao gave an interview to Bankless discussing his views on the current state of th...