Vitalik Buterin, co-founder of Ethereum, recently transferred 800 ETH, valued at approximately $2.01 million, to a multi-signature wallet.
Shortly after, the wallet converted 190 ETH to 477,000 USDC. This sparked curiosity and speculation within the crypto community about the purpose behind these moves. According to Lookonchain, a blockchain analysis platform, Buterin’s wallet, identified as “vitalik.eth,” made the transfer 40 minutes before the tweet.
The multi-signature wallet, which requires multiple signatures to authorize transactions, subsequently swapped 190 ETH for 477,000 USDC, a stablecoinpegged to the U.S. dollar.
