Ethereum (ETH) co-founder Vitalik Buterin has dismissed recent speculation that he is dumping his ETH bag, saying he has not sold the digital asset for personal gain since 2018.
“I have not “sold” ETH for personal gain since 2018, Buterin said.
Several media outlets recently reported how wallets connected to Buterin sent Ethers to exchanges, suggesting he was dumping the cryptocurrency.
For context, CryptoSlate reported that a wallet linked to the Ethereum co-founder sent more than 1,000 ETH to exchanges, unknown addresses, and a Gnosis Safe Proxy wallet during a seven-day period in September.
These trades followed a similar trend to others executed in August Marchprompting speculation from the crypto community that Buterin was quietly divesting his assets.
ETH transfers are donations
However, in a message dated October 17 at Warp castButerin clarified that the reported transactions were donations to “a charity, non-profit organization or other project.”
Buterin said it was not him who sold the asset directly, but the “recipients who sold” because “they had to cover the costs.” He said:
“If you see an article that says ‘Vitalik sends XXX ETH to [exchange]’, it’s not really me selling, it’s almost always me donating to a charity, non-profit or other project, and the recipient sells because, well, they have to cover the costs.’
This statement corresponds to recent transactions carried out by one of the charities associated with Buterin, Kanro, a charity focused about research into global solutions to pandemics.
CryptoSlatewith the help of Arkham Intelligence facts, confirmed that Kanro sent over $15 million worth of USDC stablecoin to a multi-signature wallet in the past week. The wallet would later transfer $500,000 to Coinbase and $14.93 million to Gemini in two transactions.
Meanwhile, Buterin remains an ETH whale, according to Arkham’s information facts. He keeps nearly 250,000 Ether units worth $390 million in his address.
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