Vitalik Buterin transferred 800 ETH (worth $2.01 million) to a multisig wallet on Aug. 30. Shortly after, the multisig wallet swapped 190 ETH for 477,000 USDC.
vitalik.eth(@VitalikButerin) transferred 800 $ETH($2.01M) to a multisig wallet again 40 minutes ago.The multisig wallet swapped 190 $ETH for 477K $USDC later.On Aug 9, #Vitalik also transferred 3,000 $ETH($8.04M) to this multisig wallet.https://t.co/81Vf39bvbL pic.twitter.com/6IlwtcqvPg
— Lookonchain (@lookonchain) August 30, 2024
This is not the first significant transfer by Buterin this month. On August 9, the ETH co-founder moved 3,000 ETH, valued at $8.04 million, to the same multisig wallet.
On June 12, 2023, Buterin transferred 1,000 ETH ($1.85 million) to a different multisig wallet, and in April 2023, Buterin moved 2,500 ETH ($4.6 million) to a cold storage wallet.
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These transactions suggest Buterin is consolidating or reallocating funds, possibly for security or strategic purposes, but the precise reasons for the transactions remain unknown.
In October 2023, Vitalik Buterin posted on the decentralized social platform Warpcast, that he had not sold ETH for personal gain in over five years.
Instead, he wrote that he often uses his ETH holdings to support various communities and contribute to non-profit organizations.
For instance, in February 2023, Buterin donated Ethereum to aid victims of the 7.8 magnitude earthquake in Turkey.
Read more: Massive liquidations rock Bitcoin and Ethereum — what’s next?
