Vitalik Buterin Pledges to Donate All Layer 2 Tokens to Public Goods and Charity

This declaration follows recent accusations that Buterin had sold significant amounts of Ether (ETH) for personal profit.

output: Ethereum co-founder Vitalik Buterin has announced that he will be donating all Layer 2 (L2) tokens in his possession to support either public goods within the Ethereum ecosystem or broader charitable causes. This announcement comes after recent accusations that Buterin had sold significant amounts of Ether (ETH) for personal profit.

Buterin has addressed these claims, stating that none of his ETH sales since 2018 were for personal gain. Instead, the proceeds from any sales went to support projects that aimed to benefit the Ethereum network or charitable initiatives.

In a statement dated September 5, Buterin further clarified his intentions by stating that all his L2 tokens, including illiquid assets, will be used to support these causes. “All proceeds will be donated, either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future,” he wrote.

Buterin emphasized that his funding efforts are geared toward advancing initiatives that he believes are crucial and may not receive the full attention they deserve from other parts of the ecosystem.

The user on X had alleged on August 30 that Buterin sold over $2 million worth of ETH after posting a positive update about Ethereum. These claims were later corroborated by blockchain tracker Lookonchain, which revealed that Buterin transferred 800 ETH (around $2 million) to a multi-signature wallet that went on to swap 190 ETH for 477,000 USDC.

Further examination showed that on August 9, an additional 3,000 ETH, valued at over $8 million, was moved by Buterin to the same wallet. These transactions led to speculation that the Ethereum co-founder was quickly cashing out his holdings for personal gain.

However, Buterin's holdings have been transparently documented. He initially received 700,000 ETH as part of Ethereum’s pre-mining period, which saw 11.9 million ETH being distributed to early contributors. According to Arkham Intelligence, his current holdings are around 240,000 ETH, as opposed to the original allocation of 700,000 ETH.

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