Vitalik Buterin Moves $29 Million Worth of Ethereum—Here's Why

In brief

• Buterin converted 13,217 ETH to wETH, reducing his balance from 241,000 to 227,268 ETH worth approximately $498.5 million.
• The move supports the Ethereum Foundation’s austerity measures; Buterin previously sold ETH to Mike Novogratz for just $0.99 in 2015.
• Ethereum has fallen almost 30% in a week, now trading at $2,090; Buterin has criticized its layer-2 roadmap, calling for “a new path.”