Vitalik Buterin, Leading Ethereum (ETH) Developers Disclose Crypto Holdings


via cryptovest

Vitalik Buterin, co-founder of Ethereum (ETH), and project developers Justin Drake and Martin Swende have revealed the composition of their digital asset holdings in a Reddit AMA. The responses and transparency self-reports arrived a few days after Ethereum developer Afri Schoedon ceased social media activity due to disagreements with the community and the running of the project.

It turns out that Buterin is mostly about Ethereum although he holds several other ecosystem tokens. In the Reddit thread, he claimed ownership of Bitcoin (BTC), Bitcoin Cash (BCH), DogeCoin (DOGE), and ZCash (ZEC) at less than 10% of his ETH holdings. Given that Buterin holds upward of $50 million in ETH, those holdings are rather significant.

Buterin also owns OmiseGo (OMG), Kyber Network (KBC), Maker (MKR), and Augur (REP), again at less than 10% of ETH holdings.

Drake revealed that 99% of his holdings represent ETH, and he is not affiliated with any other crypto project. He is also leveraging his ETH holdings by investing in Maker. Drake is paid in ETH for his work in the Ethereum Foundation.

Swende disclosed he is paid in euro but holds mostly ETH in his portfolio, with a small portion of Bitcoin as well. He is also not involved in side projects and does not collect speaker fees.

Reddit users showed interest in the continued transparency from the Ethereum Foundation at a time when the project is at a crossroads and faces serious competition. The next milestone for the Ethereum network will be the Constantinople hard fork.

The foundation is just one of the entities growing the ecosystem, with other projects including ConsenSys, Parity Tech, and Geth. However, the foundation organizes the regular core developers call and is often seen as a source of leadership despite denials that Ethereum is a decentralized, grass-roots organization.

Ahead of the Constantinople fork, ETH market prices once again moved upward, rising to $145.61 as of 12:00 UTC on Thursday. The asset is becoming more important in the crypto ecosystem as it is now involved in multiple trading pairs and helps funds flow into other altcoins and tokens.

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