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Blockchain investigators have focused on a recent transaction involving a wallet linked to Ethereum co-founder Vitalik Buterin, in which he sent $14.9 million worth of USD Coin (USDC) to the cryptocurrency exchange Gemini.
As per an Oct. 17 update from blockchain analytics company PeckShield on X, Buterin’s wallet “Vitalik.eth” transferred $14.93 million to Gemini on Oct. 16.
This transaction was confirmed independently by Cointelegraph using Etherscan.
#PeckShieldAlert #vitalik.eth has transferred ~15M $USDC (Multisig Contract 0xf207…D5a3) to #Gemini pic.twitter.com/6FZGKLKg9Z
— PeckShieldAlert (@PeckShieldAlert) October 17, 2023
Vitalik received the initial amount of 14.93 million USDC from Kanro, a charity associated with him, on Oct. 14.
Additional analysis from crypto data provider Lookonchain indicated that Buterin had also sent nearly $500,000 to Coinbase three days earlier.
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vitalik.eth received 14.93M $USDC from #Kanro 4 days ago and then deposited it into #Gemini yesterday before the first surge of $BTC. #Vitalik also deposited 500K $USDC into #Coinbase 2 days ago.
What did he do with the $USDC? https://t.co/o3u5JjjapU https://t.co/Z69WG0xuNP pic.twitter.com/dwTt7tzHp8— Lookonchain (@lookonchain) October 17, 2023
The price of Ethereum’s native token Ether (ETH) remained stable following the announcement of the transfer, decreasing by only 0.68% over the past four hours, according to price data from Coingecko.
The price of Ether (ETH) remained unchanged following the news of the transfer. Source: CoinGecko
Related: Ethereum’s losing streak against Bitcoin reaches 15 months — Can ETH price change direction?
Buterin’s latest transaction is part of a series of ETH deposits to centralized exchanges over recent months, with total transfers from his wallets exceeding $3.9 million in September.
On Sept. 24, Buterin sent 400 ETH — valued at $600,000 at that time — to Coinbase. Cointelegraph had previously reported a 600 ETH ($1 million) transaction from the vitalik.eth address on Aug. 21, which was also noted by on-chain monitoring services.
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