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Vitalik Buterin Reflects On Ethereum's Crucial Support From Wanxiang

03/12 09:43

According to Foresight News, Ethereum co-founder Vitalik Buterin recently shared insights into Ethereum's significant connection with China during an interview with Wu Blockchain. He highlighted the pivotal role played by Wanxiang in supporting Ethereum during a critical financial period. In 2015, following the launch of Ethereum's mainnet, the foundation faced severe financial constraints, nearly exhausting its funds. To sustain the development team, the foundation needed to sell Ethereum. Wanxiang stepped in, purchasing 410,000 Ether at a price of $1.2 each, amounting to a total investment of $500,000. This financial support was crucial for the foundation, potentially saving it from a dire situation. For Wanxiang, this investment turned out to be highly beneficial. Buterin emphasized the importance of this transaction, noting that it not only provided essential financial relief to the Ethereum Foundation but also marked a significant investment opportunity for Wanxiang. This collaboration underscored the strong ties between Ethereum and China, highlighting the mutual benefits derived from this partnership.

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