Vitalik dumps $700K worth of shitcoins that he never asked for
by 
Ethereum co-founder Vitalik Buterin has gone on a shitcoin selling spree, exchanging nearly $700,000 worth of tokens previously airdropped to him for Ether (
While some within the cryptocurrency community shared their frustration at Buterin’s decision to sell considering the outsized effect it had on the tokens, others suggested it was motivated by the tax implications of receiving airdrops, which are subject to income tax in most countries.
Seems like a strange move, he is more than aware this would tank prices and drain liquidity. My one assumption is that his accountant warned him these tokens would count as income on his tax sheet. Selling to cover the expense
— SecureZero ? (@securezero) March 7, 2023
Buterin confirmed he owned the wallet in a 2018 tweet after he was accused of hoarding 75% of the supply of Ether with fellow Ethereum co-founder Joe Lubin during the token’s pre-mining sale.
