- Over the past years, there are Ethereum transfers of over $15 million ETH tokens from Vitalik Buterin’s wallet.
- These transfers were for charity, according to new clarifications.
It is usually a bad signal when the founder of a cryptocurrency starts selling it off in large numbers. So, this was the case with Ethereum when there were sales records of Vitalik Buterin transferring large volumes of ETH. However, there are now clarifications about this.
Rumors of Vitalik Buterin Selling Out Ethereum Tokens
- In the past, we made reports of Vitalik Buterin selling off some Ethereum tokens. Of course, he made transfers of several Ethereum tokens to centralized crypto exchanges. So, transferring this amount of funds to crypto exchanges is mostly to sell them off. No sensible crypto investor or trader keeps large amounts of crypto holdings in a crypto exchange.
- The sales made by Vitalik Buterin wallet addresses were quite controversial in the crypto industry. So, it was raising questions about the sustainability of the Ethereum token, with the founder selling them off. There were reports of him moving nearly $15 million worth of the asset within the Ethereum blockchain. So, this made a lot of investors become wary of the Ethereum token. On the other hand, Vitalik Buterin made some clarifications regarding the sales of Ethereum with his wallet address. So, he is saying it wasn’t for his own personal gain. In fact, he says since 2018, there’s no sale of Ethereum with its own wallet address for personal gain. Is this a lie?
There’s no Sale of Ethereum Tokens From Vitalik Buterin Since 2018
- Due to the massively developing rumors, Vitalik Buterin was on Warpcast to discuss the recent transfers. So, he says although the transfers were from his wallet, he was making donations to charity. “It’s not actually me selling; it’s almost always me donating to some charity, nonprofit, or other project, and the recipient selling because, well, they have to cover expenses,” Buterin said while speaking on the situation.
- According to the Ethereum co-founder, there’s no sale of Ethereum for personal gains from his wallet since 2018. So, there’s already a verification of Buterin’s recent claim of not selling Ethereum tokens. According to TrustNodes, the $15 million worth of transfers from Buterin’s wallet were actually for charity. So, this Ethereum co-founder has a biotechnology charity named Kanro. This is where the majority of his crypto transfers go.
- According to a recent analysis, Buterin currently has crypto holdings that are worth around $50 million. Furthermore, the transfers from Buterin indeed had a massive effect on the Ethereum token. So, with the recent clarification from Buterin, it will help calm down investors.
Conclusion
Over the past years, the co-founder of Ethereum, Vitalik Buterin, made many transfers with the Ethereum token. So, this created a lot of rumors of the co-founder snitching on the Ethereum project. But there are now clarifications. Apparently, the more than $15 million transfers from Vitalik Buterin’s wallet were for his donations to the charity.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
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