Vitalik Buterin to Donate All Cryptocurrency Proceeds to Support Ethereum Ecosystem and Charitable Causes
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Ethereum Co-Founder Vitalik Buterin to Donate All Crypto Proceeds
On September 6, 2024, Vitalik Buterin announced he will donate all proceeds from his cryptocurrency holdings. This includes Ethereum and Layer 2 tokens. His goal is to support the Ethereum ecosystem and various charitable causes.
Buterin explained that his past token sales funded projects within Ethereum and charitable initiatives, like biomedical research. He is now shifting his focus from investing to making direct donations.
He mentioned on social media that he hasn’t sold any tokens since 2018. This was in response to community discussions about founder token sales. He emphasized that all his past sales supported valuable projects, either within the Ethereum ecosystem or in broader charity efforts.
Buterin confirmed that this new policy applies to all his cryptocurrency assets, including unrealized tokens from Layer 2 and other projects. He plans to direct these funds toward public goods within the Ethereum ecosystem and charitable efforts, with a strong interest in biomedical research.
This decision to stop investing in new token projects marks a big change in his approach to supporting the blockchain space. He stated, “My goal with giving projects money is to support things I think are valuable, especially when other parts of the ecosystem might undervalue them.”
When asked about the potential benefits of continued investment, Buterin shared his thoughts. He acknowledged that the gains from the investment cycle are real. However, he believes having a clear stance that sets an example is more valuable than being involved in potential conflicts of interest.
This announcement is likely to be a hot topic at Benzinga’s upcoming Future of Digital Assets event on November 19.
Market News and Data Provided by Benzinga APIs
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