Ethereum co-founder is selling millions worth of ETH.
Many Web3 users call him a SCAMmer, but in reality...
Is it the end for ETH and who is real Vitalik Buterin š§µš
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Vitalik Buterin has been called SCAMER last days...
This FUD is caused by his huge $ETH sales.
But what's true, and did Vitalik really sell $1B worth of ETH?
I will explain the whole story.
1/ā± 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.
He even dropped out of uni to pursue his interest in blockchain and crypto.
P.S. Don't do that.
2/ā± 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/ā± 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/ā± 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/ā± 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.
Ethereumās launch marked a significant milestone in the blockchain space, introducing a versatile platform for smart contracts and dApps.
It has since become one of the leading blockchain platforms and has inspired numerous projects and innovations.
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.
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.
All we can FUD Vitalik for is having a gf.
Since he entered relationship, things started to fall down.
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