JUST IN: Ethereum Development Announced by Vitalik Buterin Arrives – Here Are The Details

CoinMarketCap

09 Feb

According to Onchain data, Vitalik Buterin's plan to respond to recent concerns about the Ethereum Foundation is starting to work.

There was a fund inflow of 50,000 ETH to the Ethereum Foundation's multisig wallet. At the time of writing, this amount of ETH corresponds to $ 132 million. Buterin said in his statement that these funds will be spent on participation in the DeFi sector.

There have been long-standing concerns regarding the transparency of the Ethereum Foundation, particularly its treasury management.

Related News: Vitalik Buterin Responds to Ethereum (ETH) Foundation's Sell-Offs, Reveals New Solution They're Researching!

Some of the suggestions made by Vitalik Buterin included replacing executive director Aya Miyaguchi with Danny Ryan, a more technically savvy former Ethereum Foundation researcher who is leading the blockchain’s proof-of-stake upgrade. There have also been calls for the foundation to either deposit or distribute some of its roughly $1 billion in ETH holdings onto the chain. The foundation has long been criticized for putting “selling pressure” on ETH by swapping its holdings for stablecoins to pay salaries.

*This is not investment advice.

Continue Reading: JUST IN: Ethereum Development Announced by Vitalik Buterin Arrives – Here Are The Details

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Buterin said in his statement that these funds will be spent on participation in the DeFi sector.\nThere have been long-standing concerns regarding the transparency of the Ethereum Foundation, particularly its treasury management.\nRelated News: Vitalik Buterin Responds to Ethereum (ETH) Foundation's Sell-Offs, Reveals New Solution They're Researching!\nSome of the suggestions made by Vitalik Buterin included replacing executive director Aya Miyaguchi with Danny Ryan, a more technically savvy former Ethereum Foundation researcher who is leading the blockchain’s proof-of-stake upgrade. There have also been calls for the foundation to either deposit or distribute some of its roughly $1 billion in ETH holdings onto the chain. The foundation has long been criticized for putting “selling pressure” on ETH by swapping its holdings for stablecoins to pay salaries.\n*This is not investment advice.\n Continue Reading: JUST IN: Ethereum Development Announced by Vitalik Buterin Arrives – Here Are The Details","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"productRelease","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}