Vitalik Buterin, the Ethereum co-founder, recently announced that all proceeds from Layer 2 (L2) tokens and other project tokens he holds would be donated to charities or ETH ecosystem projects.
Vitalik Buterin To Donate All Layer-2 Token Holdings To Charity, Won’t Sell For Profit
Ethereum co-founder Vitalik Buterin recently announced in an X post that all proceeds from “Layer 2 (L2) tokens or other project tokens” that he holds would be donated to support “broader charity” or the “Ethereum ecosystem.”
Vitalik’s post is in response to the varied discussion that stemmed from his recent ETH transactions over the past weeks. Opinions from the crypto community were so divided that several ETH holders feared selling pressure on the token.
Vitalik responded that he has not kept any proceeds from token sales “since 2018” and would not keep the proceeds from “L2 tokens or other project tokens.”
Instead, all the proceeds from the sales would go to support charity and Ethereum’s project, Vitalik said.
According to the X post, Buterin has no intention to invest in any “Layer-2 token or other token projects in the foreseeable future.”
Vitalik is well-known for sending donations to protocols that he finds useful within the ETH ecosystem.
Vitalik Buterin’s Recent Donations
Recently, Vitalik Buterin has made several different donations. BTCRepublic reported that Vitalik donated 200 ETH valued at about $532,000 to the Effective Altruism Funds, an animal welfare charity.
A few days later, he donated 400 ETH, which is worth about $1.05M, to RAILGUN. Last May, Buterin also donated 80 ETH, which was valued at about $300,000, to the RAILGUN smart contract project.
Other donations made by Vitalik include the 100 ETH (~$300,000 at the time) donated to support the 2077 Collective. He also donated 30 ETH to support Alexey Pertsev and Roman Storm, two Tornado Cash developers, during their legal defense.
Recent data from Lookonchain, an on-chain data, revealed that the Ethereum foundation recently moved 1,000 ETH to a multi-signature wallet. However, there are no reports yet on whether this Ethereum transfer is towards a donation.
Ethereum (ETH) Price Under $2,400
At press time, the price of Ethereum, the second largest cryptocurrency by market cap, was $2,272, according to data from Tradingview.
Ethereum is possibly moving to recover from its August 5 low of $2,112.
