Gemini

Ethereum

Million

USDC

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/vitalik-buterin-transfers-15-million-in-usdc-to-gemini-exchange-heres-why/">Vitalik Buterin Transfers $15M USDC to Gemini Exchange; Why?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/news/vitalik-buterins-past-involvement-with-ripple-revealed-steven-nerayoff-provides-insights/">Vitalik Buterin,</a> one of Ethereum’s co-founders, has sent over $15 million in USDC to the cryptocurrency exchange, Gemini. The reason behind this action remains a mystery, as the transaction was not publicly disclosed but rather unearthed by the blockchain analysis firm, PeckShield.</p> 
<p>Could this be a sign of an impending sell-off or repurchase of Ethereum? Let’s find out, folks!</p> 
<h2 class="wp-block-heading" id="strong-tracing-the-transactions-strong"><strong>Tracing the Transactions</strong></h2> 
<p>On October 17, the esteemed blockchain security and analysis firm, <a href="https://twitter.com/PeckShieldAlert">PeckShield</a>, unveiled their findings. With a convincing screenshot as evidence, PeckShield identified the blockchain ID belonging to Vitalik Buterin.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/vitalik?src=hash&amp;ref_src=twsrc%5Etfw">#vitalik</a>.eth haas transferred ~15M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> (Multisig Contract 0xf207…D5a3) to <a href="https://twitter.com/hashtag/Gemini?src=hash&amp;ref_src=twsrc%5Etfw">#Gemini</a> <a href="https://t.co/6FZGKLKg9Z">pic.twitter.com/6FZGKLKg9Z</a></p>— PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1714096392296341956?ref_src=twsrc%5Etfw">October 17, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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<p>On October 16, he<a href="https://etherscan.io/tx/0xc5f542a506320f71eed57917c17dea98b717fbe44771c69ca73a0934e04b3fce"> transferred</a> $14.93 million to Gemini. On October 16, he transferred $14.93 million to Gemini. On October 14, Buterin <a href="https://platform.arkhamintelligence.com/explorer/address/0xf20784fB0047fE897919B1cd4264daD364C9D5a3">received</a> this sum of 14.93 million USDC from Kanro, a foundation connected to Buterin.</p> 
<p>On October 16, Buterin transferred a significant sum of <a href="https://etherscan.io/tx/0xc5f542a506320f71eed57917c17dea98b717fbe44771c69ca73a0934e04b3fce">$14.93 million</a> to Gemini. Surprisingly, he made an identical transfer earlier that day. On October 14, Buterin received <a href="https://platform.arkhamintelligence.com/explorer/address/0xf20784fB0047fE897919B1cd4264daD364C9D5a3">$14.93 million</a> in USDC from Kanro, an organization associated with him.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/vitalik-buterins-substantial-ethereum-transfers-to-coinbase-fuel-eth-price-speculation/">Vitalik Buterin’s Ethereum Transfers Hint at Potential Short Squeeze: Should You Sell Your ETH?</a></p> 
<h3 class="wp-block-heading" id="h-a-look-at-recent-activity">A Look at Recent Activity </h3> 
<p>This latest transaction follows a pattern that began only three weeks ago when 400 ETH, worth around $600,000, was sent to <a href="https://coinpedia.org/altcoin/ethereum-staking-yields-drop-to-3-5-coinbase-report-signals-waning-investor-interest/">Coinbase</a>. Notably, this transaction used a different wallet linked to Ethereum’s co-founder, Vitalik Buterin.</p> 
<p>Over the past weeks, Buterin has been actively depositing <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">ETH</a> into centralized exchanges. Between September 15 and September 19, he deposited 321 ETH into Kraken. Additionally, from September 17 to September 20, he engaged in a series of transactions, moving 1,700 ETH to Bitstamp. On September 19, he added 500 ETH to Paxos. Most of these transactions were conducted through various wallets tied to Vitalik.</p> 
<p>Read More: <a href="https://coinpedia.org/altcoin/ethereum-eth-price-to-hit-50k-by-2030-here-are-the-top-reasons/">Top Reasons Why Ethereum (ETH) Price Could Hit $50k by 2030</a></p> 
<h2 class="wp-block-heading" id="speculation-runs-wild">Speculation Runs Wild</h2> 
<p>In the crypto world, moving significant amounts to centralized exchanges often suggests an impending sell-off. Many enthusiasts believe that these massive transactions by Vitalik Buterin might indicate his intention to repurchase Ethereum.</p>

Vitalik Buterin Transfers $15M USDC to Gemini Exchange; Why?

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