In July 2014, the Ethereum Foundation raised 18.3 million dollars in 42 days through a public token sale in exchange for bitcoins. Over 60 million ETH were sold at an initial rate of 2,000 ETH per BTC, rising to 1,337 ETH per BTC by the end of the sale. This crowdfunding campaign ranked as the third largest ever completed at the time across all industries. Charles Hoskinson left the project midway due to disagreement over the nonprofit structure advocated by Vitalik Buterin. One year later, the Ethereum network launched, validating the success of this operation.
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