Thursday, May 30, 2024

Ethereum co-founder Vitalik Buterin strikes $1M of ETH to Coinbase

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Blockchain sleuths have flagged the switch of $1 million of ETH belonging to a pockets managed by Ethereum (ETH) co-founder Vitalik Buterin as cryptocurrency markets stay depressed after widespread weekend losses.

The publicly labeled Ethereum pockets tackle vitalik.eth transferred 600 ETH on Aug. 21, with the tackle nonetheless holding over 3,900 ETH valued at $6.5 million as per knowledge from Etherscan.

Blockchain knowledge evaluation from Lookonchain additionally revealed that vitalik.eth repaid 251,000 RAI tokens on Maker and withdrew 1,000 ETH, value $1,67 million, hours earlier than the motion of ETH to Coinbase.

Numerous distinguished blockchain knowledge aggregators and publications shared insights into the switch of 600 ETH to United States-based cryptocurrency alternate Coinbase. The transfer prompted a stir on social media within the hours after the switch, with hypothesis across the transaction rife. 

Buterin’s transaction comes as wider cryptocurrency markets stay fragile observe a pointy correction over the weekend. Bitcoin and Ethereum noticed losses of 11% and 8% respectively. 

Associated: Vitalik dumps $700K value of shitcoins that he by no means requested for

As Cointelegraph has beforehand reported, Buterin has admitted to promoting parts of his ETH holdings on separate events over the previous 5 years and has additionally publicly dumped tokens he has obtained in unsolicited alt coin airdrops.

Journal: Deposit threat: What do crypto exchanges actually do along with your cash?