Vitalik Buterin to Allocate $45 Million for Privacy Technology Development in the Ethereum Ecosystem

Vitalik Buterin, programmer and co-founder of Ethereum, has announced the allocation of a significant sum to support privacy technologies, open infrastructure, and secure systems. He co-founded Bitcoin Magazine in 2011 and proposed the idea of Ethereum in 2013, which became a revolutionary platform for smart contracts and decentralized applications. Today, Ethereum is the second-largest cryptocurrency by market capitalization after Bitcoin, and Buterin is known as a philanthropist and advocate for decentralization and privacy.

According to his recent post on X, Buterin has allocated 16,384 ETH (approximately $45 million at the current rate) from his personal funds to finance projects aimed at enhancing privacy in the Ethereum ecosystem. The funds will be distributed gradually over several years, rather than spent all at once. Additionally, further funding is possible through staking, which will allow the amount to be increased through rewards.

Funding priorities include:

• Privacy technologies.
• Open-source infrastructure.
• Tools for user sovereignty.
• Open hardware and verifiable software.
• Encrypted communication tools with local data storage.

This move is part of the broader strategy of the Ethereum Foundation to ensure long-term sustainability and focus on users who need decentralized solutions for self-sovereignty, security, and privacy. Buterin emphasized that Ethereum should be "for the people who need it," rather than for corporate interests.

This initiative underscores the growing importance of privacy in the crypto world, especially amid increasing regulations and surveillance. Buterin continues to be a key visionary who combines technical innovations with ethical principles.