Will Jefferey Contribute Some of it Back to the Ethereum Community?
A few days ago, there was a massive dump of 92,000 Ethereum. A wallet transferred the funds to the exchange Kraken. The funds were supposedly liquidated after the transfer. The age of the wallet and the massive amounts of Ethereum held raised many eyebrows. Many on Twitter have openly blamed Ethereum founder, Vitalik Buterin for the sell off of Ethereum.
Wilcke's Etheteum Sell Off
It seems that the Twitter mob seemingly got it wrong. The seller was not Vitalik but apparently one of the early developers of Ethereum, known as Jeffery Wilcke or @Jeffehh. Wilcke was one of Ethereum's development team early on although he is no longer associated with Ethereum. Following the sell off, Wilcke posted some now deleted tweets indicating his involvement.
It appears that the sell-off of Ethereum was meant to help Wilcke fund his new operations which is game development.
It also appears that Wilcke still owns a small fortune of 218,162 Ethereum remaining in his wallet at this time. This equates to roughly $28 Million USD. It is unclear whether he will sell more Ethereum in the near future.
Wilcke's sell off raises several good questions regarding teams dumping their coins on their community. Lets just hope that he develops a blockchain based game that might enrich the Ethereum community in a way.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado