The co-founder of Ethereum network Vitalik Buterin left the position of the general partner of Chinese venture fund Fenbushi Capital, which specializes in blockchain investments.
The website of Fenbushi fund still mentions Vitalik as the general partner of the company, nonetheless, he already confirmed that he will no longer hold the position of a general partner, but will continue to consult the fund as an advisor.
“2017 really has been the year where hype in crypto, including financial hype and social hype in general has far exceeded the reality of what existing blockchain systems can offer. There is a lot of attention, and a lot of eager expectation, but as far as reality goes the practical usability of blockchains has in some cases even regressed due to rising transaction fees.
I expect 2018, at least within the Ethereum space that I’m best able to speak about, will be the year of action. It will be the year where all of the ideas around scalability, Plasma, proof-of-stake, and privacy that we have painstakingly worked on and refined over the last four years are finally going to turn into real, live working code that you can play around in a highly mature form in some cases on testnets, and in some key cases even on the public mainnet. Everyone in the Ethereum space recognizes that the world is watching, and we are ready to deliver,” — he stated recently.
Fenbushi was founded in 2015 and its $50 million fund was one of the first to invest in blockchain companies through seed investments and ICOs.