Vitalik Buterin, the co-founder of Ethereum and a well-known figure in the crypto space, recently made some significant movements with his Ethereum (ETH) funds. Vitalik, who reportedly owns about $600 million worth of Ethereum, has transferred a large amount of ETH to another wallet.
Vitalik personally holds $600 million in Ethereum pic.twitter.com/aF09GzxmRF
— borovik (@3orovik) August 30, 2024
Recent ETH Transfer by Vitalik Buterin
According to Lookonchain, on August 30, Buterin moved 800 ETH, valued at around $2.01 million, to a multi-signature wallet, which requires multiple approvals to access. He also swapped 190 ETH for 477,000 USDC, a stablecoin that matches the value of the U.S. dollar . These actions have caused quite a stir among crypto enthusiasts and have led to various speculations about his reasons.
According to Lookonchain, Vitalik Buterin transferred 800 ETH to a multi-signature wallet today, worth about $2.01 million, and then exchanged 190 ETH for 477,000 USDC. Vitalik said earlier that he had not sold ETH for personal gain since 2018, and almost always donated it to a…
— Wu Blockchain (@WuBlockchain) August 30, 2024
Vitalik’s Past Statements vs. Current Actions
In the past, Buterin has mentioned that he hasn’t sold any ETH for personal profit since 2018. Instead, he said that he typically uses his ETH to donate to charities or non-profit organisations. This charitable approach has earned him respect within the crypto community. However, his recent transactions have led some to question his true intentions.
Reactions from the Crypto Community
The crypto community on X (formerly Twitter) has been actively discussing Buterin’s recent moves. One user suggested that non-profit funds might be benefiting those involved with the organisations: “But was getting a daily allowance! Rather giving themselves daily aka allowance! 🤦🏾♀️ all who are involved in his group!…And the non-profit goes in and back to their pockets!” .
Vitalik is becoming a true CT influencer. Bullposts and then day later starts selling.. https://t.co/psmVqFcNWW
— CoinMamba (@coinmamba) August 30, 2024
Another user commented on Buterin’s influence, saying, “Vitalik is becoming a true CT influencer. Bullposts and then day later start selling...” This implies that some believe Buterin may be using his influence to affect market prices before making his own trades .
Vitalik once again talking about random technical stuff and ignoring all the talk about him selling ETH.. https://t.co/M6MlEbn7Lt
— CoinMamba (@coinmamba) August 30, 2024
In response to such criticism, Vitalik said that he never sold his holdings for personal benefit. All his ETH sales were part of donations or funding support for better crypto projects that were in need.
I haven't sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the ethereum ecosystem or broader charity (eg. biomedical R&D)
— vitalik.eth (@VitalikButerin) August 31, 2024
Read also: Coinbase’s Base Blockchain Surges to Second Place in Developer Rankings Amidst Legal Challenges
