Real Reason Behind Ethereum Founder’s Huge ETH ‘Sells’

A crypto wallet owned by Ethereum founder Vitalik Buterin has seen a flurry of trading activity lately, piqued the interest of members of the crypto community at a time when Ethereum’s selling pressures are mounting.

After that, Buterin took the initiative to address concerns about the recent transfer of digital assets to multiple exchanges.

Ethereum co-founder reveals the truth behind multiple transfers

In a recent post on Warp Casta decentralized social network, Russian-Canadian computer programmer and founder of EthereumVitalik Buterin has released the real reason behind the latest ETH transfers made through his wallet address.

Buterin explained to the public that the large-scale ETH transactions made using his wallet were not sold by him. He stated that over the years, he has mainly focused on donating large amounts of Ethereum funds to charities and other projects. He further confirmed his claims by saying that he had not sold ETH for personal gain since 2018.

“If you see an article that says “Vitalik is sending XXX ETH to [exchange]I don’t actually sell, I almost always donate to some charity or non-profit or other projects and the recipient sells because, well, they have to cover the costs,” said Buterin.

Buterin is known for his philanthropic actions towards charities and medical interventions. The co-founder of Ethereum He made headlines in 2021 after donating $1 billion worth of SHIB tokens to a COVID-19 relief fund in India.

In addition, in February 2023, Buterin donated $150,000 to Anka Relief to fund a crypto aid project that will support Turkey after its recent earthquake experiences.

While there has been plenty of evidence of Buterin’s penchant for donating to multiple charities, the cryptocurrency community has remained skeptical and vigilant, relentlessly monitoring the Ethereum founder’s situation cryptocurrency activitiesas well as these recent high value ETH transactions.

ETH price settles above $1,570 | Source: ETHUSD on

Spokesman Reveals $15M ETH Transfer From Kanro Charity

According to data from PeckShield Alerta blockchain security and auditing company, Vitalik Buterin recently made a large-scale transaction of $15 million USDC on Gemini Exchange.

This transaction in question is included in the list of recent transfers related to the founder of Ethereum. These moves have sparked both curiosity and concern in the crypto community as observers try to determine the underlying motive behind Buterin’s trades.

ONE report from Cointelegraph said that a representative of the Ethereum Foundation has clarified the details behind the high transaction. According to the Spokesperson, the transfer of $15 million USDC was executed only under Buterin’s Ethereum Name Service (ENS) and not from his wallet address.

The spokesperson also purportedly confirmed that the funds came from a transfer made from a multi-point charity wallet, Kanrowhich is closely associated with Buterin for the grant sponsorship.

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