Zinger Key Points
- Buterin clarifies that all past token sales have funded projects within Ethereum or charitable causes like biomedical research.
- He emphasized his commitment to supporting undervalued projects, shifting his focus entirely from investments to donations.
Ethereum ETH/USD co-founder Vitalik Buterin on Thursday announced he will donate all proceeds from his cryptocurrency holdings, including Ethereum and Layer 2 tokens, to support the Ethereum ecosystem and broader charitable causes.
In a strategic shift, Buterin also stated he would cease investing in new token projects, opting instead for direct donations to valuable initiatives.
“I haven’t sold and kept the proceeds since 2018,” Buterin stated on social media platform X, addressing recent community discussions about founder token sales.
He emphasized that all his past sales have funded “various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (eg. biomedical R&D).”
Expanding on his commitment, Buterin clarified that this policy extends to all his cryptocurrency assets, including yet-to-be-liquid tokens from Layer 2 and other projects.
He plans to channel these funds into public goods within the Ethereum ecosystem and wider charitable efforts, highlighting biomedical research as a key area of interest.
Buterin’s decision to halt investments in Layer 2 and other token projects marks a significant shift in his approach to supporting the blockchain space.
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“My goal with giving projects money is to support things that I think are valuable, especially in cases where other parts of the ecosystem might undervalue them,” he said. “Going forward, I plan to just do this with donations.”
When questioned about the potential benefits of continued investment, Buterin offered insight into his reasoning.
“The gains of the cycle you describe are real but seem at present less than the gains of having a clear stance that sets an example and increases confidence that I’m not part of some plot to twist the Ethereum protocol in directions that benefit random infra/L2 tokens that I hold.”
This development is likely to be a key topic of discussion at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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