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Vitalik Buterin sells his MakerDAO shares

MakerDAO founder announces plans with Newchain for a new blockchain based on Solana's codebase.

By Mike Hesp
• 1 min read
Vitalik Buterin sells his MakerDAO shares

MakerDAO founder announces plans with Newchain for a new blockchain based on Solana's codebase. As a result, Buterin sells his tokens.

Vitalik Buterin has sold his MKR tokens. Records from Arkham Intelligence show that the Ethereum founder sold 500 MKR worth $581,000 on Sept. 2.

The sale came shortly after Rune Christensen announced plans for a new blockchain for the MakerDAO ecosystem.

MakerDAO is the organization behind the largest algorithmic stablecoin DAI. MKR token helps to peg the price to the U.S. dollar and acts as a governance token in DAO.

Through Newchain, the Maker ecosystem is expected to become more secure and efficient. "After doing some research, I believe that the Solana codebase should be considered as the foundation for NewChain," he said. View post on X Christensen out.

Newchain's final development time is estimated at three years.

Meanwhile View post on X the crypto community on X about Buterin's motives. Buterin has not yet commented on the token transfer.

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