Buterin Donates $300K in Crypto to Three Ethereum Startups


Ethereum creator Vitalik Buterin has recently donated $300,000 in digital currency to three Blockchain startups. Buterin’s move appears to be in response to a thread in Twitter.

The three startups, who will each receive 1,000 ETH donations are Prysmatic Labs, ChainSafe Systems, and Sigma Prime.

The three recipients are all working to construct the network’s next iteration, the Ethereum 2.0. Sigma Prime is creating an Ethereum 2.0 client known as Lighthouse. Meanwhile, Prysmatic Labs is busy with Ethereum scalability while ChainSafe is building an Ethereum 2.0 client as well.

Buterin’s move is in response to a thread on Twitter, wherein well-known members of the Ethereum community have talked about ways in which the innovation can still be enhanced. In the thread, some participants have cited the lack of funding as a reason for the slow development of many projects.

According to his tweet, Prysmatic Labs co-founder Preston Van Loon, who is also a software engineer at Google, states that even with recent grants, “it’s hardly enough to take the whole team full time with significant pay cuts and it’s certainly not even for us to scale the team to where we need it.”

In reply, Buterin tweets:

“Just sent 1000 eth. Yolo [you only live once].”

The comments follow a tweet by Crypto investment firm Mythos Capital founder Ryan Sean Adams,  which cited “tough love” comments from venture capital investor Fred Wilson, writing that Ethereum is “missing ship dates [and] are lacking basic operational leadership.”

SpankChain CEO Ameen Solaimani then replies by saying:

“Ethereum has taken its lead for granted for too long (2 years). Needs increased focus and urgency on scalability to reclaim its narrative. Move fast or die slow.”

A second donation is given to Sigma Prime after Paul Hauner, the co-founder, has tweeted that his venture has “been knocked back for a couple of grants recently. We can certainly turn 1k ETH into more developers!” Buterin’s response is throwing another 1,000 ETH grant in his way.

The third grant goes to Canadian startup ChainSafe, when Mikerah Quintyne-Collins, the company’s project head has tweeted:

“I will quite literally drop out if we got $100k in ETH.”

Buterin has responded by donating to the startup, saying:

“I expect results!”

On Twitter, Buterin is a self-confessed “Non-giver of Ether” to discourage numerous crypto scammers that litter the social media platform. The Ethereum creator has also provided three transaction links confirming the transactions, which can be traced to his actual Ether address.

Ethereum Foundation has already granted donations to Prysmatic Labs ($500,000 in October and $100,000 in March) and Sigma Prime ($150,000 in October) earlier.