Ethereum Co-Founder Vitalik Buterin Addresses Allegations of Dumping ETH

Ethereum Co-Founder Vitalik Buterin Addresses Allegations of Dumping ETH

Recent media reports have sparked speculations about Vitalik Buterin, co-founder of Ethereum (ETH), selling off his ETH holdings. These reports were based on the observation of wallets connected to Buterin sending Ethereum to exchanges, unknown addresses, and a Gnosis Safe Proxy wallet. The transactions occurred over a span of seven days in September and followed similar patterns seen in August and March of this year.

However, Buterin has come forward to clarify the purpose of these transactions. In a post on Warpcast, he stated that the reported transfers were not him directly selling the asset, but rather donations to “charity or nonprofit or other projects.” Buterin emphasized that it was the recipients who were selling the ETH to cover their expenses.

By providing this clarification, Buterin aimed to dispel any misconceptions surrounding his involvement in selling off his holdings. He explained that when news articles state that “Vitalik sends XXX ETH to [exchange],” it is typically in the context of his donations, with the recipients subsequently selling the ETH.

To support his clarification, recent transactions by one of the charities associated with Buterin, Kanro, were analyzed. Kanro is focused on researching global solutions for pandemics. Using Arkham Intelligence data, it was confirmed that Kanro had sent over $15 million worth of USDC stablecoin to a multi-signature wallet within the past week.

From this wallet, $500,000 was transferred to Coinbase in two separate transactions, while $14.93 million was sent to Gemini. This aligns with Buterin’s explanation that the recipients of his donations may sell the ETH in order to cover their expenses.

Despite the allegations and speculations, Arkham Intelligence data indicates that Vitalik Buterin continues to hold a significant amount of ETH. He is considered an ETH whale, with his address containing almost 250,000 Ether units, valued at approximately $390 million.

This information further solidifies Buterin’s assertion that he has not personally sold ETH for personal gain since 2018. It is crucial to accurately interpret and understand the purpose behind these transactions to avoid spreading misinformation and potential harm to Buterin’s reputation.

It is essential to exercise caution and critical thinking when assessing allegations against prominent figures in the cryptocurrency community, as they often face unwarranted scrutiny and speculation. In the case of Vitalik Buterin, his recent clarification regarding the transactions involving his wallets and the subsequent selling of ETH by recipients emphasizes the need for accurate reporting and interpretation of such events. With his strong commitment to philanthropic initiatives and contributions, it is crucial to avoid jumpin


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