Vitalik resists public criticism and calls for respect for the Ethereum Foundation's contributions.

This article is authorized to be reproduced from CryptoCity

The Ethereum Foundation's Multiple Sales of Ether Raise Market Concerns

Recently, Ethereum founder Vitalik Buterin (also known as V God) and the Ethereum Foundation have sold Ether multiple times, sparking widespread attention and concerns within the community. On-chain analysis shows that the Ethereum Foundation has exchanged Ether for cash several times this year. For example, on October 15, the foundation sold Ether worth approximately $258,000; two weeks ago, they transferred Ether worth around $3.03 million to the Bitstamp exchange. According to on-chain analyst Lookonchain, since January, the foundation has cashed out over $11 million worth of Ether.

These transactions have raised concerns among market participants, especially as they often coincide with bullish trends in Ether's price. Some community members believe that Buterin and the foundation's actions are weakening Ether's market performance, leading to repeated calls for Buterin to "stop selling Ether."

V God Clarifies: I Haven't Sold Any Ether, My Holdings Have Increased

In response to market skepticism, Vitalik clarified on October 26th through a tweet that he has not sold any Ether in the past month, and in fact, has increased his holdings. He emphasized that the recent transactions were not his personal actions but were part of the Ethereum Foundation's fund management.

When further questioned about the foundation's sale of over $3.3 million worth of Ether this month, Buterin provided a detailed explanation. He pointed out that the foundation is funding a series of crucial research and development projects vital for the Ethereum ecosystem's advancement.

Foundation Funds Key Development Projects, Vitalik Calls for Community Understanding

According to Vitalik's response, the projects funded by the Ethereum Foundation include preventing the annual loss of 5 million Ether due to the proof-of-work (PoW) mechanism, maintaining low transaction fees, ensuring transactions are processed within 30 seconds rather than taking 1 to 30 minutes. Additionally, the foundation is devoted to developing zero-knowledge technology (zk-tech) like zk-railway, enabling private usage of Ethereum.

He also mentioned that the foundation is developing account abstraction technology, allowing regular users to securely use Ether without remembering mnemonic phrases and avoiding centralization risks. The foundation has organized numerous local Ethereum events worldwide, although their names were not prominently displayed.

Since 2016, Ethereum has maintained zero downtime in preventing distributed denial-of-service (DoS) attacks and consensus failures. Through internal development and funding initiatives, the foundation has implemented various security measures to prevent significant fund losses. They also provide database support for various coding needs such as wallets and decentralized finance (DeFi) applications.

Finally, Vitalik urges community members to respect the foundation's efforts in fund management for the long-term development of the Ethereum ecosystem rather than criticizing it unnecessarily. He emphasizes that the foundation's fund utilization is aimed at the ecosystem's sustainable growth and should be understood and supported.