Three-year sudden reduction of 85,000 ETH holdings? Vitalik reiterates: Never sold ETH for personal gain after 2018

Ethereum co-founder Vitalik Buterin recently responded to accusations regarding the sale of ETH, emphasizing that he has not sold coins for personal gain since 2018.

Arkham Analysis: Vitalik's net worth exceeds 800 million USD, with assets growing 1,440 times since 2015.

Controversy Arises Over ETH Transfers

The blockchain data tracking firm Lookonchain recently tweeted screenshots of Vitalik's past Reddit comments mentioning that he held 325,000 ETH, and then compared it with Vitalik's on-chain records over the past three years, showing a decrease of around 85,000 ETH in holdings, valued at approximately $209 million:

• Three years ago: Held 325,000 ETH when ETH was around $4,500, valued at approximately $14.6 billion.

• Now: Holds 240,000 ETH, valued at approximately $583 million.

On August 9th and 30th, Vitalik transferred 3,000 ETH and 800 ETH respectively to a multi-signature address, coinciding with the recent market downturn, deepening concerns from the public.

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3 years ago, @VitalikButerin mentioned he held 325K $ETH($1.46B at the time), when the price of $ETH was $4,500.

Now he holds 240K $ETH($592M).

He has reduced his holdings by 85K $ETH($209M) in 3 years. pic.twitter.com/LG2bZcvd4A

— Lookonchain (@lookonchain) August 30, 2024

Vitalik Denies Selling ETH for Personal Gain

Many Key Opinion Leaders (KOL) on Twitter have pointed out that although Vitalik has been actively discussing Ethereum's development on Twitter recently, he has not mentioned anything about selling ETH.

Vitalik strongly denies any accusations of selling ETH for personal gain. He clarified that since 2018, he has never sold any Ether for personal financial needs and primarily does so to support charitable causes.

In fact, this is not the first time Vitalik has clarified such events. In October of last year, he stated:

"If you see articles saying 'Vitalik moved x ETH to an exchange,' that's not me selling. I've been donating to organizations and projects. They sell the ETH to cover expenses."

Vitalik Explains ETH Transfers: Has Not Sold Coins for Personal Gain Since 2018

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)

— vitalik.eth (@VitalikButerin) August 31, 2024

DEX Holds More Advantages Than CEX

While addressing concerns about ETH sales, Vitalik also actively responds to community issues.

The community raised the question of why some people choose decentralized exchanges (DEX) over centralized exchanges (CEX) when CEX offers a better user experience.

Vitalik responded:

"DEX is actually more convenient, with no registration process, no accounts, no deposit/withdrawal process, just enter the page, click to exchange, and confirm in the wallet."

DEXes are actually more convenient. No signup process, no accounts, no deposit/withdraw process, just go to the page, click swap, and confirm in your wallet.

— vitalik.eth (@VitalikButerin) August 31, 2024

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