Vitalik Buterin pulls $17 million in ether as Ethereum Foundation tightens spending
Vitalik Buterin withdrew $17.3 million in ETH to fund open-source development as the Ethereum Foundation enters a period of mild austerity.Summary
Ethereum co-founder Vitalik Buterin announced he personally withdrew 16,384 ETH, valued at approximately $17.3 million, to support a broader initiative focused on building an open-source, secure, and verifiable "full stack" of software and hardware, extending beyond Ethereum itself into areas like finance, communications, and biotech.
This move coincides with the Ethereum Foundation (EF) entering a period of "mild austerity" as it focuses on its aggressive scaling roadmap while ensuring long-term sustainability. Buterin emphasized that the EF will prioritize decentralization, self-sovereignty, privacy, and security over corporate adoption, focusing on "Ethereum for people who need it."
The Foundation currently holds about $558 million in crypto assets, while Buterin holds $666 million. Buterin also mentioned exploring decentralized staking options to generate future funding through staking rewards.
(Source：CoinDesk)