Vitalik Buterin Transfers $2 Million in ETH to Multisig Wallet

Community Concerns Over Transparency

These recent transfers by Buterin come on the heels of controversy surrounding the Ethereum Foundation's (EF) financial activities. On August 23, the EF transferred $88 million worth of Ethereum tokens from its treasury to the cryptocurrency exchange Kraken. This large transfer, tracked by Lookonchain and shared on social media, has raised concerns among Ethereum holders about the transparency of the Foundation’s expenditures.

In response, Ethereum Foundation’s Executive Director, Aya Miyaguchi, clarified that the transfer was part of "treasury management activities." The Foundation, with an annual budget of around $100 million, often converts ETH to fiat when recipients of grants and salaries require it. Miyaguchi assured the community that future sales of Ether would be "planned and gradual."

Calls for Greater Clarity

In an effort to address the community's concerns, Josh Stark, a key member of the Ethereum Foundation, shared detailed expenditure reports on X, outlining where the organization spent its funds. This move was aimed at providing greater clarity and easing the worries of ETH holders.

As Ethereum struggles to regain its footing above the $3,000 level, these financial maneuvers by key figures like Buterin and the EF continue to be closely scrutinized by the community.