Real Reason Behind Ethereum Founder’s Massive ETH ‘Sales’ Exposed
October 18 2023 - 6:00AM
NEWSBTC
A crypto wallet owned by the Ethereum founder Vitalik Buterin has
seen a series of transactional activities lately, piquing the
interest of crypto community members at a time when Ethereum
selling pressures are rising. Following this, Buterin has
taken the initiative to address the concerns regarding his recent
transfer of digital assets to multiple exchanges. Ethereum
Co-Founder Discloses Truth Behind Multi-Transfers In a recent post
on Warp Cast, a decentralized social network, Russian-Canadian
computer programmer and founder of Ethereum, Vitalik Buterin
publicized the real reason behind the latest ETH transfers made via
his wallet address. Related Reading: BlackRock Reacts To
False Bitcoin Spot ETF Approval News In A Positive Way Buterin
explained to the public that the large-scale ETH transactions that
were performed using his wallet were not sold by him. He stated
that over the years, he has mostly focused on donating large sums
of Ethereum funds to charity organizations and other projects. He
further solidified his claims saying that he had not sold ETH for
personal profits since 2018. “If you see an article saying
‘Vitalik sends XXX ETH to [exchange]’, it’s not actually me
selling, it’s almost always me donating to some charity or
nonprofit or other projects, and the recipient selling because,
well, they have to cover expenses,” Buterin stated. Buterin
is well-known for his philanthropic acts toward charity
organizations and medical interventions. The Ethereum co-founder
made headlines in 2021, after donating $1 billion worth of SHIB
tokens to a COVID-19 relief fund in India. Additionally, in
February 2023, Buterin donated $150,000 to Anka Relief to fund
a crypto aid project that would support Türkiye after its recent
earthquake experiences. Although there have been many proofs of
Buterin’s propensity to donate to multiple charities, the crypto
community has remained skeptical and vigilant, relentlessly
monitoring the Ethereum founder’s cryptocurrency activities, as
well as these recent high-value ETH transactions. ETH price
settles above $1,570 | Source: ETHUSD on Tradingview.com
Spokesperson Reveals $15 Million ETH Transfer From Kanro Charity
According to data from PeckShield Alert, a blockchain security and
auditing firm, Vitalik Buterin recently made a large-scale
transaction of $15 million USDC to the Gemini Exchange. This
transaction in question is among the list of recent transfers
associated with the Ethereum founder. These movements have prompted
both curiosity and concern in the crypto community, as observers
attempt to determine the underlying motive behind Buterin’s
transactions. Related Reading: Shiba Inu Whale Moves $32.4 Million
In SHIB, Large Sell Incoming? A report from Cointelegraph said an
Ethereum Foundation Spokesperson has clarified the details behind
the lofty transaction. According to the Spokesperson, the $15
million USDC transfer was only executed under Buterin’s Ethereum
Name Service (ENS) and not from his wallet address. The
spokesperson also supposedly confirmed that the funds were from a
transfer made by a charity multi-sig wallet, Kanro, which is
closely linked to Buterin to sponsor a grant. Featured image from
U.Today, chart from Tradingview.com
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
SHIBA INU (COIN:SHIBUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024