In response to a tweet, Vitalik Buterin, co-founder and creator of Ethereum, revealed how much he earns from the Foundation: 140,000 dollars per year.
Ethereum and Vitalik Buterin’s revelation of how much he earns from the Foundation
Vitalik Buterin, co-founder of Ethereum, revealed in a tweet how much he earns from the Foundation.
182,000 SGD per year
— vitalik.eth (@VitalikButerin) August 27, 2024
In the world of finance, the terms “bull” and “bear” are often used to describe market trends. A “bull” market is characterized by rising prices, while a “bear” market is marked by falling prices. Investors need to understand these concepts to make informed decisions.
“And Vitalik’s salary?
182,000 SGD per year.
In practice, the Ethereum Foundation pays Buterin a salary of 180,000 SGD per year, the equivalent of 140,000 USD. Buterin is part of the executive board of the Ethereum Foundation, along with two other members, with whom he leads the organization’s initiatives.
This public revelation about his salary comes after sharing a snippet of a report that analyzes the expenses of the Ethereum Foundation up to 2022 and 2023.
Ethereum: Vitalik Buterin reveals how much he earns from the Foundation for transparency
The clear and immediate response from Buterin to the request about how much he earns from the Ethereum Foundation, wants to express “transparency” on the publication of the data.
This probably happens after, last week, Lookonchain had announced a transaction of 94 million dollars in ETH that the Ethereum Foundation had sent to the crypto-exchange Kraken.
In this regard, the executive director of the Ethereum Foundation Aya Miyaguch responded as follows:
“This is part of our treasury management activities. EF has a budget of about 100 million dollars per year, largely made up of grants and salaries, and some of the beneficiaries can only accept in fiat. This year there was a long period during which we were advised not to carry out any treasury activities due to regulatory complications, and we were not able to share the plan in advance. Moreover, this transaction does not equate to a sale. From here on, there will be planned and gradual sales.”
At the beginning of August, always Lookonchain, had reported the transfer of 3000 ETH, the equivalent of 8 million dollars, carried out by Buterin to a new multi-sig wallet. The hypothesis that has emerged is that it could be a donation.
The price of ETH
Knowing how much the creator of Ethereum earns does not seem to have thrilled the investors of the crypto. In the last 24 hours, in fact, the price of ETH has even dropped by 3.65%.
At the time of writing, ETH is worth $2,527, still far from the over $3,000 of a month ago.
Such bear market may also be due to the latest criticisms against Ethereum, as it is claimed that the platform is neglecting the DeFi sector (Decentralized Finance).
In this regard, Buterin wanted to respond, emphasizing his priority towards the long-term sustainability of the ecosystem.
Buterin reiterated his position on the role of Ethereum in DeFi, emphasizing that the crypto of smart contracts is and will remain a fundamental pillar of DeFi.
