Ethereum (ETH) founder Vitalik Buterin carried out another ETH transfer on Friday, on-chain data shows, raising concerns among crypto traders hours after the spending practices from the Ethereum Foundation were put into question due to its lack of transparency.
Vitalik Buterin transferred 800 Ether, worth $2.01 million, early on Friday. Ethereum Foundation transferred over $88 million worth of Ether from the treasury to Kraken, raising concerns among traders. Ether hovers around $2,500 at the time of writing, down 8% this week.
EF has a budget of ~$100m per year, which is largely made up of grants and salaries, and some of the recipients are only able to accept in fiat. This year, there was a long period of time when we were advised not to do any… — Aya Miyaguchi August 24, 2024 Josh Stark, a key member of the Foundation shared expenditure reports and details of where the organization spent funds internally and externally in a tweet thread on X. 1. First, we’ve been working on a new EF report, covering 2022 and 2023.
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