Ethereum founder Vitalik Buterin made a significant crypto transaction today, transferring 800 ETH worth around $2.01 million to a multi-signature wallet, according to blockchain analytics firm Lookonchain. Shortly after, Buterin traded 190 ETH for 477,000 USDC.
Vitalik Buterin Transfers 800 ETH to Multi-Signature Wallet, Swaps 190 ETH for USDC
Buterin had previously stated that he had not sold ETH for personal gain since 2018, instead opting to donate to charities and non-profits. This latest transaction has sparked interest in the crypto community, with many speculating on the potential use of the funds.
vitalik.eth(@VitalikButerin) transferred 800 $ETH($2.01M) to a multisig wallet again 40 minutes ago.
The multisig wallet swapped 190 $ETH for 477K $USDC later.
On Aug 9, #Vitalik also transferred 3,000 $ETH($8.04M) to this multisig wallet.https://t.co/81Vf39bvbL pic.twitter.com/6IlwtcqvPg
— Lookonchain (@lookonchain) August 30, 2024
The use of a multi-signature wallet suggests heightened security measures, indicating that these funds may be going to an important cause. The conversion of ETH to USDC, a stablecoin pegged to the US dollar, may indicate a donation, investment, or operational spending plan.
Buterin’s actions continue to garner attention in the cryptocurrency world, as he remains a vocal advocate for using digital assets to support charitable causes. The exact purpose of today’s actions has not yet been disclosed.
*This is not investment advice.
