Vitalik: Criticism of Ethereum Foundation's Token Sale is Harsh
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- Vitalik Buterin stated that it is almost impossible for the Ethereum Foundation to cover operating expenses without selling the tokens it holds.
- Vitalik claimed there is a lot of misinformation regarding the Foundation's ETH sales, and the 5000 ETH sale was not from a Foundation address.
- He added that when the Foundation sold 35,000 ETH last August, it was done gradually through Kraken's OTC channel to minimize market impact.
- The article was summarized using an artificial intelligence-based language model.
- Due to the nature of the technology, key content in the text may be excluded or different from the facts.
Vitalik Buterin, the founder of Ethereum (ETH), stated in an interview with WuBlockchain on the 4th (local time) that "it is almost impossible for the Ethereum Foundation to cover operating expenses without selling the tokens it holds."
He continued, "Some demand complete transparency from the Foundation, while simultaneously insisting that ETH should not be sold," explaining, "Others argue that the Foundation should maintain a solid financial structure, not sell tokens, and pay core developers more."
He also said, "It is impossible to satisfy all these demands. Moreover, there is a lot of misinformation regarding the Foundation's ETH sales," claiming, "Recently, Lookonchain alleged that one of the Foundation's addresses sold 5000 ETH, but that address is not one we own."
Furthermore, he added, "In the past, we supported developers through that address, and the funds have long since been moved elsewhere," adding, "Also, when the Foundation sold 35,000 ETH last August, contrary to what was known, the transaction was conducted through Kraken's OTC channel. It was not sold all at once but gradually to minimize market impact."
