Ethereum’s co-founder, Vitalik Buterin, has been making large crypto transfers lately. Most recently, on October 16th, he transferred USDC worth approximately 15 million dollars to the Gemini exchange. In September, it was identified that a total of 4,000 Ethereum, valued at 6.39 million dollars, moved between exchanges.
Buterin stated that his Ethereum transfers are not personal sales but are “actions for charitable purposes.”
Regarding the transfers he made to exchanges, Vitalik Buterin commented: “I’m not actually the one selling. Almost every time I transfer, I make a donation to a charity, a non-profit organization, or some other project. These organizations and projects sell the cryptocurrencies because they need to cover expenses. As for me, I haven’t sold any ETH for personal gain since 2018.”