HOT DEVELOPMENT: The Ethereum Development Announced by Vitalik Buterin Has Arrived! Here are the Details

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According to Onchain data, the plan presented by Vitalik Buterin in response to recent concerns about the Ethereum Foundation has started to take effect.

There was a fund entry of 50,000 ETH to the Ethereum Foundation's multisig wallet. At the time of writing this article, this amount of ETH is equivalent to 132 million dollars. Buterin stated in his announcement that these funds will be spent on participating in the DeFi sector.

There have been long-standing concerns about the transparency of the Ethereum Foundation, especially regarding treasury management.

Some of the proposals made by Vitalik Buterin included bringing in former Ethereum Foundation researcher Danny Ryan, who is more technically knowledgeable and leads the blockchain's proof-of-stake upgrade, in place of executive director Aya Miyaguchi. There were also calls for the Foundation to invest or distribute part of its approximately 1 billion dollars in assets in ETH. The Foundation has long been criticized for creating 'selling pressure' on ETH by exchanging its assets for stablecoins to pay salaries.

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