Buterin Defends Ethereum Foundation Amid Criticism Over Token Support
- Vitalik Buterin stated that the Ethereum Foundation (EF) will prioritize censorship-resistance, open-source software, and cybersecurity.
- The current price of Ethereum is approximately $2,094, over 50% below its all-time high of nearly $5,000 reached in August.
- The EF holds only about 0.16% of all ETH, compared to other foundations that typically hold between 10-50% of their tokens.
- Following the Dencun upgrade in March, Ethereum’s layer-1 fees significantly decreased, impacting base layer revenue.
- In May, the EF unstaked over 21,000 ETH from Lido as part of its treasury strategy but clarified this does not confirm a sale.
Buterin emphasized that the EF’s focus will remain on long-term research and development rather than immediate token price support amidst growing criticisms from large ETH holders and market observers.
The Foundation’s commitment to longevity may lead to less frequent sales of ETH as it aims to finance research effectively while managing its limited holdings. (Source)
