Vitalik Buterin Makes Suspicious Ethereum (ETH) Wallet Movements, Community Questions His Intentions

Vitalik Buterin, the co-founder of Ethereum and a well-known figure in the crypto space, recently made some significant movements with his Ethereum

Vitalik Buterin, the co-founder of Ethereum, recently made some large crypto moves that have sparked speculations and discussions within the crypto community. Buterin, who is known for his significant Ethereum holdings, reportedly valued at around $600 million, has made some interesting transactions that have attracted attention.

According to Lookonchain, on August 30, Buterin moved 800 ETH, which is valued at around $2.01 million, to a multi-signature wallet, which typically requires multiple approvals to access. In addition to this transfer, Buterin also swapped 190 ETH for 477,000 USDC, a stablecoin that is designed to match the value of the U.S. dollar.

These actions by Buterin have not gone unnoticed by the crypto community, with many speculating on his reasons for these transactions. Some have suggested that these funds may be used for non-profit purposes, while others believe that Buterin may be planning to sell his ETH holdings for personal gain.

In the past, Buterin has stated that he hasn’t sold any ETH for personal profit since 2018. Instead, he has claimed that he usually uses his ETH to donate to charities or non-profit organisations. This approach has earned him respect for his charitable contributions. However, his recent transactions seem to be at odds with his previous statements.

On X (formerly Twitter), the crypto community actively discussed Buterin's recent moves. One user suggested that non-profit funds might be benefiting those involved with the organisations: “But was getting a daily allowance! Rather giving themselves daily aka allowance! ??♀️ all who are involved in his group!…And the non-profit goes in and back to their pockets!”

Another user commented on Buterin's influence, saying, “Vitalik is becoming a true CT influencer. Bullposts and then day later start selling...” This implies that some believe Buterin may be using his influence to affect market prices before making his own trades

In response to such criticism, Vitalik said that he never sold his holdings for personal benefit. All his ETH sales were part of donations or funding support for better crypto projects that were in need.

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