Ethereum Co-Founder Vitalik Buterin Clarifies $15 Million USDC Transaction

Ethereum Co-Founder Vitalik Buterin Clarifies $15 Million USDC Transaction

The Ethereum Foundation has shed light on a recent $15 million USD Coin transaction involving Ethereum co-founder Vitalik Buterin, which garnered attention from various blockchain tracking platforms.

On October 16, Buterin’s wallet, known as “vitalik.eth,” was said to have transferred $14.93 million to the Gemini crypto exchange, as reported by blockchain analytics firm PeckShield on October 17.

However, a spokesperson from the Ethereum Foundation clarified to Cointelegraph that the transfer was simply Buterin’s Ethereum Name Service (ENS) signing off on a transfer from a charity multisig wallet. Contrary to appearances, the funds never actually left Buterin’s wallet.

The original sum of $14.93 million USDC came from Kanro, a charity associated with Buterin, on October 14. Later, Buterin authorized a transfer of the same amount to a new multisig wallet. Kanro, a biotech charity funded by Buterin, focuses on addressing Covid and other pandemic-related issues.

Additionally, crypto data provider Lookonchain revealed that Buterin had also transferred nearly $500,000 to Coinbase three days before the Gemini transaction.