Buterin sells 700 ETH to fund long-term projects

Vitalik Buterin has sold just over 700 ether in recent on-chain transactions, a move he said is linked to funding long-term public-interest initiatives rather than responding to market conditions.

Blockchain data tracked by Lookonchain shows Buterin sold 211.84 ETH for about 500,000 USDC, sending the proceeds to Kanro, a philanthropic organisation he founded to support global health and research efforts.

The Ethereum co-founder later sold a further 493 ETH, bringing total sales to roughly 704.84 ETH, worth about $1.63 million at current prices, with no immediate impact on the market.

Buterin said last week that he had withdrawn 16,384 ETH to deploy over several years as the Ethereum Foundation enters a period of “mild austerity”.

“In these five years, the Ethereum Foundation is entering a period of mild austerity,”

Buterin said, adding that the funds would support open-source software, secure hardware, governance tools and public health research.

Despite the sales, Ethereum’s price remained resilient, rising about 5% over the past 24 hours in line with a broader market recovery.