Gemini

Ethereum

Million

USDC

Coin

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 Ethereum co-founder Vitalik Buterin has once again conducted a high-value cryptocurrency transfer; this time, it is a $14.9 million USD Coin (USDC) transaction to cryptocurrency exchange Gemini.&nbsp;&nbsp;
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This transaction occurred on October 16 and was tracked by blockchain analytics firm PeckShield. It identified Buterin’s wallet, “vitalik.eth,” as the source of this transfer. The <a style="color: #0000ff;" href="https://etherscan.io/tx/0xc5f542a506320f71eed57917c17dea98b717fbe44771c69ca73a0934e04b3fce" rel="noopener noreferrer nofollow">transaction</a> was independently verified using the Ethereum block explorer Etherscan.
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/hashtag/PeckShieldAlert?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#PeckShieldAlert</a> <a href="https://twitter.com/hashtag/vitalik?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#vitalik</a>.eth haas transferred ~15M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a> (Multisig Contract 0xf207…D5a3) to <a href="https://twitter.com/hashtag/Gemini?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Gemini</a> <a href="https://t.co/6FZGKLKg9Z" rel="noopener noreferrer nofollow">pic.twitter.com/6FZGKLKg9Z</a>
 — PeckShieldAlert (@PeckShieldAlert) <a href="https://twitter.com/PeckShieldAlert/status/1714096392296341956?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 17, 2023</a>
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Crypto data provider Lookonchain also found that Buterin had also moved around $500,000 worth of ETH to Coinbase just three days before this Gemini transfer.
<blockquote class="twitter-tweet">
 vitalik.eth received 14.93M <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a> from <a href="https://twitter.com/hashtag/Kanro?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kanro</a> 4 days ago and then deposited it into <a href="https://twitter.com/hashtag/Gemini?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Gemini</a> yesterday before the first surge of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>.<a href="https://twitter.com/hashtag/Vitalik?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Vitalik</a> also deposited 500K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a> into <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> 2 days ago.
 What did he do with the <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a>?<a href="https://t.co/o3u5JjjapU" rel="noopener noreferrer nofollow">https://t.co/o3u5JjjapU</a><a href="https://t.co/Z69WG0xuNP" rel="noopener noreferrer nofollow">https://t.co/Z69WG0xuNP</a> <a href="https://t.co/dwTt7tzHp8" rel="noopener noreferrer nofollow">pic.twitter.com/dwTt7tzHp8</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1714100288070807777?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 17, 2023</a>
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These transactions are part of a series of deposits by Buterin into centralized exchanges over the past few months. In September, he made several transfers totaling over $3.9 million, as revealed by on-chain data. Notable among these was a $600,000 transfer of <a style="color: #0000ff;" href="https://twitter.com/spotonchain/status/1706156605874872403" rel="noopener noreferrer nofollow">400 ETH to Coinbase on September 24</a>. In August, Buterin sent 600 ETH <a style="color: #0000ff;" href="https://twitter.com/lookonchain/status/1693550177863549268" rel="noopener noreferrer nofollow">worth around $1 million</a> to an exchange, as observed from wallet activity
However, Buterin has not publicly explained the reasons behind these transfers. It’s important to mention that these actions have coincided with the ongoing bearish sentiment in the broader cryptocurrency market, which has persisted for over a year now.
While these transactions by Buterin didn’t significantly impact the market price of ETH, they are reminiscent of a high-value transaction by Binance on November 28, 2022. Binance <a href="https://twitter.com/whale_alert/status/1597169416084529155" rel="noopener noreferrer nofollow">sent a substantial amount of Bitcoin (127,351 BTC)</a>, equivalent to over $2 million, to an unknown wallet. This transaction, unlike Buterin’s, sparked concerns in the cryptocurrency community. The move triggered a FUD rally as some <a style="color: #0000ff;" href="https://twitter.com/143gojo/status/1597201147902951424" rel="noopener noreferrer nofollow">crypto community members</a> noted that Binance moves an entire fortune’s worth of BTC in a single transaction.
Despite the activity from Buterin and the broader cryptocurrency market’s bearish sentiment, ETH’s market price remained relatively stable. In the four hours following these transactions, ETH experienced a minor drop of less than 1%, based on <a style="color: #0000ff;" href="https://www.coingecko.com/en/coins/ethereum" rel="noopener noreferrer nofollow">CoinGecko pricing data</a>.
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The post <a rel="noopener noreferrer nofollow" href="https://defi-planet.com/2023/10/vitalik-buterin-continues-series-of-crypto-deposits-moves-14-9-million-in-usdc-to-gemini/">Vitalik Buterin Continues Series of Crypto Deposits, Moves $14.9 Million in USDC to Gemini</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://defi-planet.com">DeFi Planet</a>.

Vitalik Buterin Continues Series of Crypto Deposits, Moves $14.9 Million in USDC to Gemini

DeFi Planet

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