{"id":559285,"date":"2023-11-06T13:00:36","date_gmt":"2023-11-06T13:00:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=559285"},"modified":"2023-11-06T12:17:46","modified_gmt":"2023-11-06T12:17:46","slug":"ethereum-founder-70000-eth-sale","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-founder-70000-eth-sale\/","title":{"rendered":"Did Ethereum Founder Vitalik Buterin Short Ethereum? Unraveling A 70,000 ETH Sale"},"content":{"rendered":"<p><span style=\"font-weight: 400\">A video has surfaced on social media where Ethereum founder Vitalik Buterin revealed he sold 70,000 ETH tokens during its price all-time high.\u00a0<\/span><\/p>\n<h2>Buterin Acknowledges Shorting Ethereum<\/h2>\n<p><span style=\"font-weight: 400\">Crypto community member, MetaMan X, published a video post on <\/span><a href=\"https:\/\/twitter.com\/metaman_x\/status\/80621797?s=12&amp;t=ONRd4hm_o6277hy9Day5ww\" rel=\"nofollow\"><span style=\"font-weight: 400\">X<\/span><\/a><span style=\"font-weight: 400\"> (formerly Twitter), disclosing a conversation where <\/span><span style=\"font-weight: 400\">Ethereum<\/span><span style=\"font-weight: 400\"> Founder, <\/span><a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-challenges-vitalik-buterin\/\"><span style=\"font-weight: 400\">Vitalik Buterin<\/span><\/a><span style=\"font-weight: 400\"> admitted that he had sold about 70,000 ETH tokens, essentially shorting the cryptocurrency during a major all-time high.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin-under-35000-supply\/\">Bitcoin Falls Under $35,000 But 86% Of Supply Remains Unmoved \u2013 Temporary Setback?<\/a><\/div>\n<p><span style=\"font-weight: 400\">In the podcast with American hedge fund director, Eric Ross Weinstein, Buterin spoke on the price of Ethereum and <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-faces-big-challenge-35250\/\"><span style=\"font-weight: 400\">Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> in 2017. During Ethereum\u2019s previous all-time high in 2017, when the <\/span><a href=\"https:\/\/bitcoinist.com\/ethereum-nft-boom-behind-the-2-rise\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">price of ETH<\/span><\/a><span style=\"font-weight: 400\"> rose as high as $1,600 and Bitcoin\u2019s price was up $20,000, Buterin voiced doubts about whether the significant price surge truly aligned with the crypto market\u2019s modest achievements over the years.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThe crypto space has reached half a trillion dollars, does it deserve it?\u201d Buterin stated.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">When asked if he had shorted Ethereum during the all-time high, Buterin stated that he had convinced the <\/span><a href=\"https:\/\/bitcoinist.com\/ethereum-attack-selling-1700-eth-cost-them-this\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Ethereum Foundation<\/span><\/a><span style=\"font-weight: 400\"> to sell a considerable amount of ETH tokens, and the result of the decision made a huge impact on the cryptocurrency later.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cI did get the Ethereum Foundation to sell 70,000 ETH like basically at the top, and that\u2019s doubled our runway now, so it was one good decision that had a lot of impact,\u201d Buterin said.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/p3dOUzpE\/\" alt=\"Ethereum price chart from Tradingview.com\" width=\"2650\" height=\"1758\"><\/p>\n<pre style=\"text-align: center\">ETH price at $1,886 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">ETHUSD on Tradingview.com<\/a><\/pre>\n<h2>Community Worries Over Buterin\u2019s ETH Sell-Offs<\/h2>\n<p><span style=\"font-weight: 400\">Many crypto community members have raised concerns about the multiple <\/span><a href=\"https:\/\/bitcoinist.com\/ethereums-high-transaction-costs-can-bitcoin-spark-be-the-solution\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">ETH transactions <\/span><\/a><span style=\"font-weight: 400\">said to be conducted by Ethereum\u2019s founder. Recently, Buterin was spotted making a <\/span><a href=\"https:\/\/etherscan.io\/address\/0x79370de41b274846521bd95077a929d50cc72aea\" rel=\"nofollow\"><span style=\"font-weight: 400\">transfer of 100 ETH<\/span><\/a><span style=\"font-weight: 400\">, worth about $181,000 to Coinbase, one of the world\u2019s largest crypto exchanges.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The motive behind the transaction has sparked curiosity among Ethereum investors and the crypto community. Earlier in August, Buterin was also reported moving 600 ETH worth $1 million to Coinbase.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-and-ethereum-crypto-rally\/\">Bitcoin And Ethereum: Crypto Pundit Says Expect A Repeat Of Massive 2019 Rally<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, the Ethereum Founder had publicly clarified in October that he had not sold any ETH tokens for personal gain since 2018. He also stated that most ETH transactions were not him selling, but rather the recipients of his charitable donations selling the <\/span><a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-resistance-1825\/\"><span style=\"font-weight: 400\">ETH tokens.\u00a0<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400\">The founder has also been caught in controversy over the weekend when Ethereum <\/span><a href=\"https:\/\/bitcoinist.com\/ethereum-insider-founders-fraud\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">whistleblower Steven Nerayoff alleged that Buterin was involved in some sort of fraud involving ETH.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400\">Nerayoff says Ethereum is linked to corrupt SEC officials to carry out this fraud which he says is on a larger scale than what happened with FTX. For reference, FTX founder <\/span><a href=\"https:\/\/bitcoinist.com\/ftx-sam-bankman-fried-convicted\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Sam Bankman-Fried has been found guilty of fraud charges<\/span><\/a><span style=\"font-weight: 400\"> after the exchange filed for bankruptcy in 2022 with a $9 billion hold in its balance sheet.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Crypto News, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A video has surfaced on social media where Ethereum founder Vitalik Buterin revealed he sold 70,000 ETH tokens during its price all-time high.\u00a0 Buterin Acknowledges Shorting Ethereum Crypto community member, MetaMan X, published a video post on X (formerly Twitter), disclosing a conversation where Ethereum Founder, Vitalik Buterin admitted that he had sold about 70,000 ETH tokens, essentially shorting the cryptocurrency during a major all-time high.\u00a0 Related Reading: Bitcoin Falls Under $35,000 But 86% Of Supply Remains Unmoved \u2013 Temporary Setback? In the podcast with American hedge fund director, Eric Ross Weinstein, Buterin spoke on the price of Ethereum and Bitcoin in 2017. During Ethereum\u2019s previous all-time high in 2017, when the price of ETH rose as high as $1,600 and Bitcoin\u2019s price was up $20,000, Buterin voiced doubts about whether the significant price surge truly aligned with the crypto market\u2019s modest achievements over the years.\u00a0 \u201cThe crypto space has reached half a trillion dollars, does it deserve it?\u201d Buterin stated.\u00a0 When asked if he had shorted Ethereum during the all-time high, Buterin stated that he had convinced the Ethereum Foundation to sell a considerable amount of ETH tokens, and the result of the decision made a huge impact on the cryptocurrency later. \u201cI did get the Ethereum Foundation to sell 70,000 ETH like basically at the top, and that\u2019s doubled our runway now, so it was one good decision that had a lot of impact,\u201d Buterin said.\u00a0 ETH price at $1,886 | Source: ETHUSD on Tradingview.com Community Worries Over Buterin\u2019s ETH Sell-Offs Many crypto community members have raised concerns about the multiple ETH transactions said to be conducted by Ethereum\u2019s founder. Recently, Buterin was spotted making a transfer of 100 ETH, worth about $181,000 to Coinbase, one of the world\u2019s largest crypto exchanges.\u00a0 The motive behind the transaction has sparked curiosity among Ethereum investors and the crypto community. Earlier in August, Buterin was also reported moving 600 ETH worth $1 million to Coinbase.\u00a0 Related Reading: Bitcoin And Ethereum: Crypto Pundit Says Expect A Repeat Of Massive 2019 Rally However, the Ethereum Founder had publicly clarified in October that he had not sold any ETH tokens for personal gain since 2018. He also stated that most ETH transactions were not him selling, but rather the recipients of his charitable donations selling the ETH tokens.\u00a0 The founder has also been caught in controversy over the weekend when Ethereum whistleblower Steven Nerayoff alleged that Buterin was involved in some sort of fraud involving ETH. Nerayoff says Ethereum is linked to corrupt SEC officials to carry out this fraud which he says is on a larger scale than what happened with FTX. For reference, FTX founder Sam Bankman-Fried has been found guilty of fraud charges after the exchange filed for bankruptcy in 2022 with a $9 billion hold in its balance sheet. Featured image from Crypto News, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":559287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,87556,7931,8686,78803,4398],"class_list":["post-559285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethereum-founder","tag-ethereum-news","tag-ethusd","tag-ethusdt","tag-vitalik-buterin"],"acf":[],"yoast_head":"\n<title>Did Ethereum Founder Vitalik Buterin Short Ethereum? 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