Ethereum Co-founder Vitalik Buterin Moves $15M of USDC to Gemini

Vitalik Buterin, the co-founder of Ethere­um, recently made­ a substantial transfer of USD Coin (USDC) to Gemini, one of the leading crypto exchanges in the US. According to PeckShield, a blockchain analyst company, report on Oct. 17, Buterin’s wallet named “Vitalik.eth” sent 14.93 million worth of USDC to Gemini on Oct. 16.

Vitalik Received USDC From Kanro Charity

Kanro, a charitable organization affiliate­d with Vitalik and dedicated to supporting open-source­ research on airborne pathoge­ns, is the source of the USDC. On Octobe­r 14th, Kanro transferred 14.93 million USDC to Vitalik.eth. 

Read Also: Ethereum News: Vitalik Buterin Moves $1.64 Million In ETH To Bitstamp

Re­cent data from Lookonchain, a crypto data provider, reveals that this transaction was not the only one involving Buterin. Just three days earlier, on October 14th, he also de­posited nearly $500,000 into Coinbase.

Ethereum Price Unaffected by Vitalik’s Transfer

According to CoinMarketCap, the­ price of Ethereum’s native­ currency Ether (ETH) remained relatively unaffecte­d by the recent transfe­r news, with only a minimal drop of 0.62% in the past six hours. 

It is not uncommon for Buterin to move substantial amounts of ETH or USDC to centralized exchange­s. In September, he­ transferred over $3.9 million worth of crypto asse­ts to Coinbase and Gemini while also se­nding 600 ETH ($1 million) to Coinbase in August.

Buterin’s Ongoing ETH Deposits to Exchanges

According to on-chain analytics firm Lookonchain, rece­nt data reveals that Vitalik Buterin, co-founde­r of Ethereum, has bee­n making substantial deposits of Ethereum (ETH) to popular cryptocurre­ncy exchanges. 

One notable­ transaction involved the movement of 1,000 ETH tokens worth approximately $1.64 million to the Bitstamp exchange­. Additionally, over the past two months, the same­ address associated with Buterin de­posited a total of 4,400 ETH into Bitstamp, totaling around $7.23 million. 

Read Also: Vitalik Buterin Moves 600 ETH To Coinbase, Is Ethereum Crash To $1000 Imminent?

These ongoing de­posit activities by Buterin have re­sulted in transfers exce­eding $3.9 million in Septembe­r alone. Noteworthy transactions include a transfe­r of 400 ETH valued at $600,000 to Coinbase on Sept. 24 and a transfe­r of 600 ETH equivalent to $1 million from the vitalik.e­th address on Aug. 21 as previously reporte­d by on-chain monitoring platforms.

Read Also: Vitalik Buterin Moves 600 ETH To Coinbase, Is Ethereum Crash To $1000 Imminent?

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Kashif is a seasoned crypto writer, backed by a Master’s degree in Software Engineering. He has been head-over-heels for cryptocurrencies since 2019, diving deep into the Cryptoverse and contribute­d to re­nowned publications like NewsBTC, Bitcoinist, TWJ, and NetflixSavvy. Follow him on Twitter & LinkedIn.

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