A wallet linked to Ethereum co-founder Vitalik Buterin has been steadily selling ETH over the past several weeks, raising eyebrows and sparking speculation.
The wallet in question, identified as “0x556,” received 1,300 ETH from Buterin’s wallet “0xd04” in September. Since then, it has transferred over $3 million worth of ETH to various cryptocurrency exchanges, including Paxos and Bitstamp.
This isn’t the first time Buterin-linked wallets have been involved in large ETH transfers. In the past, Buterin has sent funds to wallets that have later sold ETH, leading to concerns that he might be profiting from the rising price of Ethereum.
However, Buterin has consistently denied these allegations, claiming that all ETH sales he is associated with are for philanthropic or ecosystem support purposes. He has also explained that many of the wallets linked to him are controlled by entities he funds, such as bio-defense groups.
Despite Buterin’s denials, these ETH sell-offs have raised questions about his motivations and the potential influence he may have over the Ethereum ecosystem. Some critics have likened Ethereum’s governance model to a “dictatorship” driven by Buterin’s decisions.
As the Ethereum ecosystem continues to evolve, it will be interesting to see how Buterin’s role and influence within the community will shape its future.
