Ethereum Co-Founder Vitalik Buterin Denies Selling Coins, Clarifies Transactions
Ethereum project co-founder Vitalik Buterin has clarified that he has not sold any of his network coins since 2018. In response to reports about movements in his wallet, Buterin explained that when articles claim he is sending ETH to an exchange, it is usually because he is donating to a charity or nonprofit organization, which then sells the tokens to cover expenses. This statement came after nearly $15 million worth of USD Coin (USDC) was transferred from Buterin’s wallet to the Gemini crypto exchange. Buterin’s significant holdings make him influential in the token’s price, prompting community members to closely monitor his wallet address. Recently, Buterin received $14.93 million from the Kanro charity, as confirmed by Arkham Intelligence data.
Spot On Chain Analysts Note ETH Transfers
According to Spot On Chain analysts, in September of this year, Vitalik Buterin transferred a total of 2,421 ETH to exchanges within ten days, equivalent to approximately $3.8 million. These transfers also caught the attention of the community due to Buterin’s position as a large holder and potential influence on the token’s price.
Vitalik Buterin’s Involvement in Charitable Initiatives
Vitalik Buterin has been actively involved in various charitable initiatives. He recently received $14.93 million from the Kanro charity, which previously collaborated with him on supporting research into the COVID-19 virus. Back in June 2023, Buterin and Polygon co-founder Sandeep Nailwal committed $100 million to the Crypto Relief fund.
Hot Take: Vitalik Buterin’s Commitment to Philanthropy and Impact on Market Sentiment
Vitalik Buterin’s commitment to philanthropy through donations and support for charitable projects is commendable. His recent clarification regarding his transactions helps dispel concerns about potential market manipulation. As a prominent figure in the crypto community, Buterin’s actions and holdings hold significant influence over market sentiment. By actively engaging in philanthropic efforts, Buterin not only contributes to important causes but also helps build trust and confidence in the crypto space. Community members will continue to monitor his wallet address closely, as any movement of his coins can have a notable impact on Ethereum’s price.
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