ethereum co-founder Vitalik Buterin has denied recent reports suggesting that he has been selling ethereum (eth) and other cryptocurrencies for personal gain.
In a statement issued on Tuesday, Buterin clarified that the recent cryptocurrency transfers from his wallets were primarily donations made to various charities, non-profits, and projects.
Vitalik Buterin denies selling eth for personal gain
Buterin’s statement came in response to multiple reports circulating in the crypto community, which claimed that he had been dumping millions of dollars worth of eth and other crypto assets.
Took Warpcast to eth/0xb8ccf84d” data-wpel-link=”external” target=”_blank”>clarify that he has not sold eth for personal profit since 2018 and stated: “If you see an article that says ‘Vitalik sends XXX eth to (exchange)’, it’s not actually me who is selling; I’m almost always the one who makes the donation to some charity, nonprofit, or other project, and the recipient sells because, well, they have to cover the expenses. I have not ‘sold’ eth for personal gain since 2018.”
The controversy dates back to December 2017, when Vitalik Buterin liquidated a substantial amount of cryptocurrency holdings, worth approximately $50 million. This move had a significant impact on the ethereum market at the time. However, Buterin’s statement emphasizes that this was the last time he planned to sell his cryptocurrency holdings for personal gain.
Buterin’s Recent eth Transfers Spark Controversy
The following events come after his recent transfer of approximately $14.9 million in USD Coin (USDC) from his wallet, called “Vitalik.eth,” to the Gemini cryptocurrency exchange on October 16, as reported by PeckShield, a trading firm. blockchain analysis.
However, the situation surrounding the transfer of $15 million USDC to Gemini has now become clearer. According to a eth-since-2018-says-vitalik-buterin” data-wpel-link=”external” target=”_blank”>report According to TrustNodes, the USDC sent from Vitalik’s address belonged to Kanro, the biotech charity he founded, further reinforcing his commitment to philanthropic efforts.
In addition to the Gemini transfer, Buterin had previously transferred nearly $500,000 to Coinbase just three days before the Gemini transaction. Throughout September, the total amount transferred from Buterin’s wallets exceeded $3.9 million.
One transaction in particular on September 24 drew a lot of attention, as Buterin sent 400 eth, equivalent to $600,000 at the time, to Coinbase. Additionally, in early October, he deposited 600 eth, valued at approximately $1 million, on the same exchange.
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