Ethereum co-founder Vitalik Buterin refutes asset dumping claims

by ChainChirp
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Ethereum (ETH) co-founder Vitalik Buterin has dismissed current speculations that he’s dumping his ETH bag, saying that he hasn’t bought the digital asset for private acquire since 2018.

“I haven’t “bought” ETH for private acquire since 2018,” Buterin stated.

A number of media shops have not too long ago reported how wallets related to Buterin have despatched Ethers to exchanges, suggesting that he was dumping the cryptocurrency.

For context, CryptoSlate reported {that a} pockets linked to the Ethereum co-founder despatched over 1,000 ETH to exchanges, unknown addresses, and a Gnosis Protected Proxy pockets throughout a seven-day interval in September.

These transactions adopted the same pattern of others carried out in August and March, prompting speculations from the crypto neighborhood that Buterin was quietly divesting his holdings.

ETH transfers are donations

Nevertheless, in an Oct. 17 submit on Warpcast, Buterin clarified that the reported transactions had been donations to “charity or nonprofit or different mission.”

Buterin stated this was not him instantly promoting the asset however the “recipients promoting” as a result of “they should cowl bills.” He stated:

“In case you see an article saying ‘Vitalik sends XXX ETH to [exchange]’, it’s not really me promoting, it’s nearly at all times me donating to some charity or nonprofit or different mission, and the recipient promoting as a result of, properly, they should cowl bills.”

This assertion aligns with current transactions carried out by one of many charities related to Buterin, Kanro—a charity focused on researching international options for pandemics.

CryptoSlate, utilizing Arkham Intelligence data, confirmed that Kanro despatched over $15 million price of USDC stablecoin to a multi-signature pockets previously week. The pockets would later switch $500,000 to Coinbase in two transactions and $14.93 million to Gemini.

See also  Bears Drag Ethereum Below $2,100 Support As ETH Withdrawals Cross $2 Billion

In the meantime, Buterin stays an ETH whale, per Arkham’s intelligence data. He holds practically 250,000 Ether items price $390 million in his handle.

The submit Ethereum co-founder Vitalik Buterin refutes asset dumping claims appeared first on CryptoSlate.

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