Vitalik Buterin, the co-founder of Ethereum, has revealed that he has not sold any ether for personal gain since 2018. In a recent interview with Bloomberg, Buterin said that he has donated most of his ether holdings to various causes, such as pandemic relief, crypto research, and public goods. He also said that he does not intend to sell any more ether in the foreseeable future, as he believes in the long-term potential of the network.
Buterin’s statement comes amid a surge in the price of ether, which reached a new all-time high of over earlier this month. The second-largest cryptocurrency by market capitalization has outperformed bitcoin this year, gaining more than 400% compared to bitcoin’s 100%. Some analysts attribute this to the growing popularity of decentralized applications (dApps) and decentralized finance (DeFi) platforms that run on Ethereum, as well as the upcoming network upgrades that aim to improve scalability and efficiency.
Buterin, who holds about 333,000 ether worth around $1.3 billion at current prices, said that he is not motivated by wealth or fame, but by the social impact of his work. He said that he wants to use his influence and resources to support projects that can benefit humanity and the planet. He also said that he is not interested in becoming a billionaire or a celebrity, as he values his privacy and freedom.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Buterin’s altruism and vision have earned him respect and admiration from many in the crypto community, as well as from some prominent figures outside of it. For example, Elon Musk, the CEO of Tesla and SpaceX, recently praised Buterin for his work on Ethereum, calling him a “fearless leader”. Musk also said that he agrees with Buterin’s philosophy of not being attached to material possessions.
Buterin’s disclosure also contrasts with some other crypto founders and influencers who have been accused of selling their tokens or promoting dubious projects for personal gain. For instance, the creator of Litecoin, sold all of his Litecoin holdings in 2017, citing a conflict of interest. However, some critics claimed that he dumped his coins at the peak of the market and profited from the hype. Similarly, John McAfee, the antivirus software pioneer and crypto enthusiast, was indicted by the US authorities for allegedly promoting fraudulent ICOs and laundering millions of dollars.
Buterin’s integrity and dedication to Ethereum have made him one of the most influential and respected figures in the crypto space. His decision to not sell his ether for personal gain shows his confidence in the future of the network and his commitment to its development. As Ethereum continues to grow and innovate, Buterin’s role as its leader and visionary will remain crucial and inspiring.
However, Elixir Protocol, a decentralized exchange platform that leverages zero-knowledge proofs to enable fast and private transactions, has announced that it has raised $7.5 million in a Series A funding round led by Andreessen Horowitz. The round also saw participation from other prominent investors, such as Coinbase Ventures, Polychain Capital, and Electric Capital. The funding values Elixir Protocol at $100 million, making it one of the most valuable projects in the DeFi space.
Elixir Protocol aims to solve some of the key challenges facing current decentralized exchanges, such as high gas fees, low liquidity, and lack of privacy. By using zk-SNARKs, a form of zero-knowledge proofs, Elixir Protocol can process thousands of transactions per second without revealing any sensitive information about the users or the trades. This allows Elixir Protocol to offer a fast, secure, and scalable solution for DeFi users who value their privacy and sovereignty.
Elixir Protocol also features a novel liquidity mechanism that rewards liquidity providers with ELIX tokens, the native token of the platform. ELIX tokens can be used to govern the protocol, access premium features, and stake for additional rewards. Elixir Protocol plans to use the new funding to further develop its technology, expand its team, and grow its community.
“We are thrilled to have the support of such reputable investors who share our vision of building a more open and inclusive financial system,” said the founder and CEO of Elixir Protocol. “We believe that privacy is a fundamental human right and that DeFi users deserve a better way to exchange their assets without compromising their identity or security. Elixir Protocol is on a mission to make DeFi more accessible, efficient, and private for everyone.”
“Elixir Protocol is one of the most innovative and promising projects in the DeFi space,” said Chris Dixon, a partner at Andreessen Horowitz. “We are impressed by the team’s technical expertise and vision of creating a decentralized exchange platform that combines speed, scalability, and privacy. We are excited to partner with Elixir Protocol and help them achieve their goals.”