Ethereum Co-founder Buterin Transfers $14.9M in USDC to Gemini Exchange
Summary:
Ethereum co-founder Vitalik Buterin recently transferred $14.9 million in USD Coin (USDC) to crypto exchange Gemini, according to a report by blockchain analytics firm PeckShield. This large sum was originally received from charity organisation Kanro. Concurrently, Buterin is also reported to have recently transferred $500,000 to Coinbase. Interestingly, this series of transactions has not significantly impacted the market price of Ethereum's native currency, Ether (ETH).
A recent transaction reveals that Vitalik Buterin, co-founder of Ethereum, moved $14.9 million in USD Coin (USDC) to the Gemini cryptocurrency exchange. Blockchain analytics company PeckShield shared this information on October 17th, illustrating that Buterin's wallet, "Vitalik.eth", had transferred the substantial sum to Gemini on the 16th of October. This activity was independently confirmed by Cointelegraph via Etherscan.
Two days before the transfer, Buterin received the same amount of USDC from Kanro, a charity organization incorporated with him. Based on additional data from crypto analytics firm Lookonchain, it showed that Buterin also transferred almost a half-million dollars to Coinbase in the days leading up to this.
The market for Ethereum's native currency, Ether (ETH), was not significantly affected following the news of this transfer. Coingecko's price data revealed a minimal 0.68% decline in the past four hours.
In the recent past, there's been an uptick in ETH deposits to centralized exchanges. Buterin's wallets alone have transfered more than $3.9 million in September. Notably, on September 24th, Buterin transferred 400 ETH (valued at approximately $600,000 at the time) to Coinbase. A transaction of 600 ETH (equivalent to $1 million) from the vitalik.eth address was also recorded on August 21, as reported by on-chain tracking tools.
Published At
10/17/2023 5:53:35 AM
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