Vitalik Buterin, co-founder of Ethereum, addressed concerns regarding his recent cryptocurrency transfers on Tuesday, clarifying that such transactions do not reflect a sale for personal gain.
What happened?
Buterin shared on the decentralized social network Warpcast, saying: "I have not 'sold' ETH for personal profit since 2018."
Buterin stressed that the transfers are, for the most part, donations destined for charities, non-profit entities and other projects, with the receiving organizations being responsible for selling the assets to cover their expenses.
"If you find an article that says 'Vitalik sends XXX ETH to [an exchange]', it's not actually me selling, it's almost always a donation to some charity, non-profit, or other project, and they are the recipients who sell the assets, because, well, they need to cover their expenses.
Because it is important
This comes after Buterin moved approximately $14.9 million in USD Coin (USDC) to Gemini, a cryptocurrency exchange platform. PeckShield, a blockchain analysis company, reported that the transfer from Buterin's wallet, called "Vitalik.eth," took place on October 16.
Further analysis on Etherscan, a blockchain explorer, revealed that Buterin received the initial sum of 14.93 million USDC from Kanro, a charity associated with him, on October 14.
In addition to the transfer to Gemini, Buterin had also transferred almost $500,000 to Coinbase just three days earlier. During September, the total amount transferred from Buterin's wallets exceeded $3.9 million.
One notable transaction occurred on September 24, when Buterin sent 400 ETH (equivalent to $600,000 at the time) to Coinbase. Additionally, at the beginning of October, he deposited 600 ether, which is equivalent to approximately $1 million of the cryptocurrency, on the Coinbase exchange platform.
