Ethereum's co-founder is under fire for selling millions worth of ETH. Many in the Web3 community are labeling him a scammer, but let's break down the situation.
𝙒𝙝𝙤 𝙞𝙨 𝙑𝙞𝙩𝙖𝙡𝙞𝙠 𝘽𝙪𝙩𝙚𝙧𝙞𝙣?
Vitalik is a programmer and one of Ethereum’s co-founders. He first learned about Bitcoin from his father at 17, which shifted his focus towards cryptocurrency.

2/ 𝙁𝙞𝙧𝙨𝙩 𝘾𝙧𝙮𝙥𝙩𝙤 𝙄𝙣𝙫𝙤𝙡𝙫𝙚𝙢𝙚𝙣𝙩 (2011)
He quickly became involved in the crypto world, co-founding Bitcoin Magazine, a publication that played a significant role in shaping discussions around digital currencies.

3/ 𝙏𝙝𝙚 𝘽𝙞𝙧𝙩𝙝 𝙤𝙛 𝙀𝙩𝙝𝙚𝙧𝙚𝙪𝙢 (2013)
Noticing Bitcoin’s limitations, Vitalik proposed Ethereum—a blockchain with smart contract capabilities through its own programming language, Solidity.

4/ 𝙀𝙩𝙝𝙚𝙧𝙚𝙪𝙢 𝙄𝘾𝙊 (2014)
Ethereum's Initial Coin Offering (ICO) launched on July 20, 2014, pricing ETH at $0.3 per coin. It sold 60 million ETH and raised about $18M, making it a landmark ICO at the time.

5/ 𝙀𝙩𝙝𝙚𝙧𝙚𝙪𝙢’𝙨 𝙇𝙖𝙪𝙣𝙘𝙝 (2015)
Ethereum officially launched on July 30, 2015, with its initial release, “Frontier,” providing the groundwork for smart contracts and decentralized applications (dApps).

6/ 𝙃𝙞𝙨 𝙒𝙚𝙖𝙡𝙩𝙝
Vitalik's early involvement with Ethereum brought him significant wealth, with his net worth now estimated between $530M and $600M.

7/ 𝙏𝙝𝙚 𝙍𝙚𝙘𝙚𝙣𝙩 𝙁𝙐𝘿
Criticism started when Vitalik sold $2M worth of ETH. Some accused him of negatively impacting ETH’s price and being secretive about the sale. Vitalik responded, explaining the sales were to fund valuable projects, not for personal gain. He clarified that he won’t be investing in other projects to avoid conflicts of interest. His sales are directed towards funding Ethereum-related initiatives and charitable causes.

The backlash against Vitalik for selling a small portion of his holdings in a token with a $270B market cap is exaggerated. Media today seems keen on discrediting major crypto figures like Durov, CZ, and now Vitalik. Be careful of the information you consume and think critically.

Ethereum co-founder is selling millions worth of ETH.
Many Web3 users call him a Scammer, but in reality...
Let Me Explain...
Vitalik Buterin has been called SCAMMER last days...
This FUD is caused by his huge $ETH sales.
But what's true, and did Vitalik really sell $1B worth of ETH?

1/➱ Who is Vitalik?

He is a coder and co-founder of Ethereum.
He learned about BTC from his father at 17, which flipped his life around.

2/➱ First crypto interaction (2011)

He became involved with crypto early on its start, co-founding Bitcoin Magazine.
Bitcoin Magazine has been influential in the crypto space, providing insights and fostering discussions about the future of digital currencies.

3/➱ Idea of Ether (2013)

Buterin realized that the Bitcoin blockchain had limited functionality for building dApps.
This year, he proposed Ethereum, a blockchain with a built-in Solidity language that would allow devs to create smart contracts.

4/➱ Ether ICO (2014)

The Ethereum ICO started on July 20.
The initial price of ETH was set at approximately $0.3 per ETH.
During ICO, 60M $ETH were sold to early investors, totaling ~66.5% of the supply.
The ICO raised ~$18M making it one of the largest of its time.

5/➱ Ethereum launch (2015)

Ethereum officially launched its first version, "Frontier," on July 30.
This minimal release was aimed at developers for testing and building.
It provided foundational infrastructure for ETH network and enabled experimentation with smart contracts.

His Wealth

Vitalik Buterin became wealthy from his early role in creating Ethereum, earning a lot of $ETH at the start.
As the value of $ETH increased, his wealth grew a lot over time.
Right now his net worth is valued from $530M to $600M.

Recent FUD

FUD around Vitalik started from his $2M worth of $ETH sale.
Some accused him of negatively impacting $ETH price by selling large amounts of it.
One particular complaint was that Buterin avoided discussing these sales with the community.
He recently responded, explaining that these sales have been solely for funding projects he believes are valuable.
He clarified that these sales were not for personal gain but to support initiatives he finds important.
Also, he stated he will no longer invest in other projects, including Layer 2 tokens, to avoid conflicts of interest.
All funds from ETH sales will continue funding public goods like Ethereum projects and charitable causes, ensuring no personal profit.
FUDing the dev of a token with $270B MC for selling $2M worth of it, is just absurd.
Nowadays, the media is trying to cancel the most influential people in crypto, like Durov, CZ, and now Vitalik.
All I can say is filter out what info you receive and think with your own head.

#ETH #Cryptohustle #VitalikButerin #dyor #Ethereum