Vitalik Buterin transfers 800 ETH to a multisig wallet, fueling speculation and concerns within the crypto community. Whatâs next for Ethereumâs co-founder?
Author: Tanishq Bodh
Written On: Fri, 30 Aug 2024 20:04:28 GMT
On August 30, 2024, Vitalik Buterin, the co-founder of Ethereum, made headlines with a significant onchain transaction. Buterin transferred 800 ether, worth just over $2 million, to a multisig wallet, marking his second substantial move this month. This transaction has sparked a wave of speculation and concern across the crypto community.
The transfer was first highlighted by the X account Lookonchain, which noted that Buterinâs well-known address had moved 800 ETH. Shortly after the transfer, 190 of those ETH were swapped for 477,000 USDC. This isnât the first time Buterin has moved large sums; earlier in August, he transferred 3,000 ETH, valued at $8.04 million, to the same multisig wallet.
Despite these transfers, Buterinâs holdings remain substantial. Onchain data from Arkham Intelligence shows that Buterin still controls 240,171 ETH, which is worth approximately $590 million at current exchange rates. Additionally, he holds 208 wrapped ETH (WETH) valued at $511,000, alongside a variety of donated altcoins and meme coins.
The community is abuzz with speculation about the purpose of these transactions. Some believe that Buterinâs moves could be related to donation purposes, aligning with his previous philanthropic activities. However, with no official statement from Buterin, the exact reasons remain unclear.
Buterinâs recent transactions suggest a strategic approach to managing his assets. Whether these moves are part of a larger financial plan or have other motives, they offer a rare glimpse into the financial decisions of one of the most influential figures in the cryptocurrency world. As Buterin continues to make headlines with his onchain activities, the crypto community remains vigilant, closely monitoring his wallets for any further developments.
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