Ethereum (ETH) co-founder Vitalik Buterin has been subject to recent speculations surrounding his ETH transactions. It has been suggested that Buterin has been dumping his digital assets, causing concern and speculation within the cryptocurrency community. However, Buterin has now come forward to dismiss these claims and provide clarity on his recent transactions.
Buterin firmly stated that he has not sold any ETH for personal gain since 2018. Several media outlets reported transactions from wallets connected to Buterin sent to various exchanges, leading to assumptions that he was indeed divesting his holdings. One wallet, linked to the Ethereum co-founder, sent over 1,000 ETH to exchanges, unknown addresses, and a Gnosis Safe Proxy wallet over a seven-day period in September. Similar transactions were observed in August and March, intensifying the speculations surrounding Buterin’s actions.
Contrary to these assumptions, Buterin clarified that the reported transactions were in fact donations to charity, non-profit organizations, or other projects. He emphasized that he was not directly selling the assets himself, but rather the recipients of these donations were selling them to cover expenses. This explanation sheds light on the intentions behind Buterin’s transactions and demonstrates his commitment to supporting charitable causes and initiatives.
Recent data from Arkham Intelligence confirmed transactions made by Kanro, a charity associated with Buterin. Kanro focuses on researching global solutions for pandemics, a cause that has gained significant attention in light of the ongoing COVID-19 crisis. The charity sent over $15 million worth of USDC stablecoin to a multi-signature wallet. From there, $500,000 was transferred to Coinbase in two separate transactions, while $14.93 million was sent to Gemini. These transactions align with Buterin’s statement regarding his contributions to charities and organizations.
Despite the recent transactions and speculations, Buterin still holds a substantial amount of Ether in his address. Arkham Intelligence data reveals that he owns nearly 250,000 Ether units, equivalent to $390 million. This classification as an ETH whale demonstrates Buterin’s continued involvement and belief in the Ethereum ecosystem.
With his recent clarification, Vitalik Buterin has addressed the speculations surrounding his ETH transactions. He has provided a clear explanation that the reported transactions were donations to charitable causes, not personal divestments. Buterin’s commitment to supporting various projects and initiatives showcases his continued dedication to philanthropy within the cryptocurrency space. As he remains an ETH whale, his significant holdings signify his ongoing belief in and support for the Ethereum network.
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