Ethereum’s co-originator, Vitalik Buterin, has vehemently refuted recent claims. These claims insinuated that he had been divesting Ethereum (ETH) and other digital assets for his own enrichment.
In a statement issued on Tuesday, Buterin clarified that the recent cryptocurrency transfers from his wallets had a primary purpose. They were mainly endowments directed towards various benevolent entities, non-profit organizations, and ventures.
Vitalik Buterin vehemently denies any sale of ETH for personal gain. His statement comes as a direct response to numerous reports circulating within the cryptocurrency community. These reports claimed that he had been offloading millions of dollars’ worth of ETH and other cryptocurrency assets.
He resorted to Warpcast to disambiguate his stance, affirming that he hasn’t liquidated ETH for personal gain since 2018.
He expounded, “Should you encounter an article proclaiming ‘Vitalik dispatches XXX ETH to [exchange],’ rest assured it is not a sale orchestrated by me; it is, for the most part, a munificent contribution to some charitable or non-profit cause, or another related enterprise, with the beneficiary effecting a sale merely to defray their outlays. My last ‘sale’ of ETH for personal enrichment transpired back in 2018.”
The Cryptocurrency Chronicles: Vitalik Buterin’s Impact on Ethereum and Philanthropy
The furor harks back to December 2017 when Vitalik Buterin memorably divested a substantial sum of cryptocurrency assets, amounting to an approximate $50 million. This maneuver left an indelible imprint on the Ethereum market at that juncture.
However, Buterin’s statement underscores that it was his final intention to trade his digital assets for personal gain. The commotion surrounding Buterin’s recent ETH transfers is noteworthy.
These events unfold following his transfer of about $14.9 million in USD Coin (USDC) from his wallet, known as “Vitalik.eth,” to the Gemini cryptocurrency exchange on October 16.
These transactions were meticulously documented by PeckShield, an analytics firm with expertise in blockchain technology. Notwithstanding, the circumstances encompassing the $15 million USDC transfer to Gemini have since been clarified.
According to a report by TrustNodes, the USDC sent from Vitalik’s address was, in fact, owned by Kanro. Kanro is the biotech charitable organization he founded. This revelation further emphasizes his steadfast commitment to philanthropic causes.
Vitalik Buterin’s Cryptocurrency Moves: A Close Look at ETH Transfers and Market Impact
In addition to the Gemini transfer, Buterin had previously conveyed close to $500,000 to Coinbase merely three days prior to the Gemini transaction.
Over the course of September, the cumulative sum transferred from Buterin’s wallets eclipsed $3.9 million.
A particular transaction on September 24 commanded considerable attention, as Buterin dispatched 400 ETH, which equated to $600,000 at the time, to Coinbase. Furthermore, in early October, he deposited 600 ETH, appraised at roughly $1 million, into the same exchange.