Vitalik Buterin Withdraws $17M in ETH Amid Ethereum Foundation Budget Cuts

Ethereum co-founder Vitalik Buterin has moved approximately 600 ETH, valued at around $17 million, from a multi-signature wallet to a new address. This transaction coincides with the Ethereum Foundation's recent announcement of a more conservative spending strategy for the year. The non-profit organization, a key driver of Ethereum's ecosystem development, has signaled a shift towards reduced operational costs and a focus on long-term sustainability. While large transfers by founders often attract market speculation, Buterin's move is interpreted by many analysts as a routine portfolio management action rather than a signal of lost confidence. The Ethereum network continues to see significant protocol upgrades and growing layer-2 adoption, underscoring its ongoing development momentum despite the foundation's adjusted fiscal approach.