Ethereum co-founder Vitalik Buterin refutes asset dumping claims

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

“I haven’t “offered” ETH for private acquire since 2018,” Buterin mentioned.

A number of media retailers have just lately reported how wallets linked to Buterin have despatched Ethers to exchanges, suggesting that he was dumping the cryptocurrency.

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

These transactions adopted an identical 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

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

Buterin mentioned this was not him straight promoting the asset however the “recipients promoting” as a result of “they need to cowl bills.” He mentioned:

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

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

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

In the meantime, Buterin stays an ETH whale, per Arkham’s intelligence information. He holds almost 250,000 Ether models value $390 million in his deal with.

The publish Ethereum co-founder Vitalik Buterin refutes asset dumping claims appeared first on starcrypto.