Summary
- The Ethereum (ETH) foundation stated that it cannot sell held assets to cover operational costs.
- The foundation has suspended ETH sales and emphasized the need to provide more support to developers.
- The sale of 35,000 ETH was conducted through a different OTC Channel, aiming to minimize market impact.
Vitalik Buterin, the creator of Ethereum (ETH), stated in an interview with Upbit on the 4th (local time) that "it is almost impossible for the Ethereum Foundation to sell the tokens it holds and cover operational costs." He further explained, "In each case, the foundation demands complete transparency and insists on not trading ETH," adding, "Someone else maintains a robust financial structure for the foundation, not selling tokens, and should provide more support to core developers." He also stated, "This cannot satisfy everyone. Also, there is no incorrect information regarding the foundation's ETH sales," adding, "Recently, a blockchain address sold 5000 ETH, but that address is not one we hold." He emphasized, "In the past, we supported developers through the relevant address, and this fund has long been transferred elsewhere," adding, "In August, when the foundation sold 35,000 ETH, it was done through a different Kraken's OTC Channel, and it was conducted strategically to minimize market impact."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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