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 just lately 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 Secure Proxy pockets throughout a seven-day interval in September.
These transactions adopted the same development 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 put up on Warpcast, Buterin clarified that the reported transactions have been donations to “charity or nonprofit or different venture.”
Buterin stated this was not him instantly promoting the asset however the “recipients promoting” as a result of “they should cowl bills.” He stated:
“Should you see an article saying ‘Vitalik sends XXX ETH to [exchange]’, it’s not truly me promoting, it’s virtually all the time me donating to some charity or nonprofit or different venture, and the recipient promoting as a result of, effectively, they should cowl bills.”
This assertion aligns with current transactions carried out by one of many charities related to Buterin, Kanro—a charity targeted on researching world options for pandemics.
CryptoSlate, utilizing Arkham Intelligence information, confirmed that Kanro despatched over $15 million value 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.
In the meantime, Buterin stays an ETH whale, per Arkham’s intelligence information. He holds almost 250,000 Ether items value $390 million in his tackle.
The put up Ethereum co-founder Vitalik Buterin refutes asset dumping claims appeared first on CryptoSlate.