HomeCryptocurrencyEthereum's Vitalik Buterin Clarifies ETH Transfers, Putting an End to Speculation in...

Ethereum’s Vitalik Buterin Clarifies ETH Transfers, Putting an End to Speculation in Simple Terms

Ethereum’s Vitalik Buterin Addresses Speculation on ETH Transfers

Rumors Dispelled by Ethereum Founder

In a move to dispel rumors and speculation surrounding his recent transfers, Vitalik Buterin, the renowned founder of the Ethereum blockchain, took to social media to address the concerns of the crypto community.

Clarifying the Nature of Transactions

Buterin clarified the nature of the transactions in a tweet, asserting that reports indicating his personal selling of Ethereum were misleading. He explained that these transfers were primarily charitable donations made to organizations and projects, requiring liquidation to cover operational expenses.

- Advertisement -

Confusion within the Crypto Community

The Ethereum founder’s message came in response to growing confusion within the cryptocurrency community regarding the nature of these transfers. Many perceived them as sell-offs, which led to bearish sentiments in the market.

Charitable Transfers by Kanro

A notable example recently emerged when Kanro, a charity closely affiliated with Vitalik Buterin, made substantial transfers of approximately 15.43 million USDC. Out of this total, 500,000 USDC was sent to Coinbase on Oct. 14, while 14.93 million USDC was sent to Gemini on Oct. 16.

Mission of Kanro

Buterin introduced Kanro on June 9, 2023, highlighting that it primarily receives funding from Crypto Relief, led by the Polygon founder and himself. Kanro’s mission revolves around researching global solutions for the pandemic and potential future epidemics.

- Advertisement -

Unanswered Questions and Speculation

Despite Buterin’s attempts to clarify the situation, the enigmatic nature of his recent activities continues to raise eyebrows. While some questions have been answered, a lingering air of mystery surrounds his transactions, leaving many intrigued. As the crypto world speculates about motives, it seems there might be more to this story than meets the eye.

This article was originally published on U.Today

Must Read