Vitalik Buterin in his tweet on "X" from May 24 explains that his influence on the Ethereum Foundation board is gradually diminishing, and the organization will be selling less ETH and narrowing its mission.
He claims that the foundation should act as a node in the ecosystem rather than a central coordinator.
One would like to believe that, but in practice, Vitalik is not shy about cashing out ETH on exchanges for selling.
Earlier this year, he announced a plan to withdraw 16,384 ETH to fund the ecosystem and open-source projects. But in reality, he has already exceeded his plan, selling around 17,000–19,000 ETH through CoW Protocol (that's over $35–40 million). Just a few days at the end of February, he ramped up and dumped large batches of 2,000–6,000 ETH at a time onto the market.
It’s reminiscent of an alcoholic who vows never to drink again but then relapses.
The Ethereum Foundation also recently performed a significant unload, selling another batch of ETH worth over $33 million. They still have about $214 million in ETH on their balances.
#Ethereum - this is a centralized corporation. They manage the tokenomics in a way that benefits the business and developers at the moment, rather than for retail investors to profit from the scarcity.
#BinanceSquareFamily
He claims that the foundation should act as a node in the ecosystem rather than a central coordinator.
One would like to believe that, but in practice, Vitalik is not shy about cashing out ETH on exchanges for selling.
Earlier this year, he announced a plan to withdraw 16,384 ETH to fund the ecosystem and open-source projects. But in reality, he has already exceeded his plan, selling around 17,000–19,000 ETH through CoW Protocol (that's over $35–40 million). Just a few days at the end of February, he ramped up and dumped large batches of 2,000–6,000 ETH at a time onto the market.
It’s reminiscent of an alcoholic who vows never to drink again but then relapses.
The Ethereum Foundation also recently performed a significant unload, selling another batch of ETH worth over $33 million. They still have about $214 million in ETH on their balances.
#Ethereum - this is a centralized corporation. They manage the tokenomics in a way that benefits the business and developers at the moment, rather than for retail investors to profit from the scarcity.
#BinanceSquareFamily