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Vitalik Buterin, the co-founder of the blockchain that unleashed smart contracts on the world, has seen tens of millions in holdings evaporate from his portfolio in just a few days.
According to data provided According to blockchain analytics service Arkham Intelligence, Buterin's publicly known crypto wallets became around $29 million lighter in the six days between December 15 and December 21. This means that the portfolios cumulatively lost around 5% of their total value as the price of the assets they held fell from $572 million to $543 million.
Buterin puts his money where his mouth is
Of the current $543 million in wallets, almost all of it is ethereum (eth). The top two assets besides eth are Kyber Network (KNC) with $623,000 and Wrapped ethereum (WETH) with $431,000.
As a result of this portfolio made up almost entirely of ethereum, Buterin is highly exposed to the fluctuation in the price of the cryptocurrency he helped create. On December 15, eth peaked at just under $2,300, accounting for much of its more than 4% drop toward its current price of just over $2,200.
Who is Vitalik Buterin?
Vitalik Buterin is a Russian-Canadian programmer and writer known primarily for his contribution to the creation of ethereum. He co-founded bitcoin Magazine, a widely known online publication focused on bitcoin that began publishing in 2012.
After noting some of the limitations of the bitcoin network, Buterin published a white paper in 2014 proposing ethereum, a blockchain-based distributed computing platform that could support smart contract functionality. ethereum launched in 2015 and Buterin played a key role as a co-founder of the project.
Since then, ethereum has become the second largest cryptocurrency platform, second only to bitcoin in market capitalization. Buterin continues to contribute to improving and advancing the technology of the open source ethereum protocol.
