Ethereum (ETH) creator Vitalik Buterin says he hasn’t sold ETH for personal gain since 2018.
Buterin notes on the decentralized social media network Warpcast that people should be wary of news articles reporting on his ETH moves.
“If you see an article saying ‘Vitalik sends XXX ETH to [exchange],’ it’s not actually me selling, it’s almost always me donating to some charity or nonprofit or other project, and the recipient selling because, well, they have to cover expenses.”
A wallet owned by Buterin shifted 600 ETH worth over $1 million to top US crypto exchange Coinbase in August, according to Ethereum blockchain tracker Etherscan.
In March, Buterin moved 200 ETH worth over $323,000 to a wallet of unknown origin, according to Blockchain security firm Peckshield. The ETH trove was subsequently transferred to the crypto exchange Kraken, where it could potentially be sold on the open market.
The security firm also reported that the Ethereum founder sent 500 ETH to stablecoin-focused decentralized finance (DeFi) protocol Reflexer earlier that month. Reflexer is a platform designed to enable users to mint stablecoins by using their crypto as collateral.
Buterin used the 500 ETH as collateral to accumulate stablecoins to the tune of 378,500 USD Coin (USDC) and 50,000 Dai (DAI).
ETH is trading at $1,574 at time of writing.
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