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ShapeShift founder Erik Voorhees purchased $56 million in Ether after a year-long hiatus., 2026/03/16 11:20:05
The founder of the cryptocurrency platform ShapeShift, Erik Voorhees, has acquired Ethereum worth over $56 million. This information was reported by the Lookonchain service, referencing data from the blockchain analytics platform Arkham.
According to analysts, Voorhees invested $49.08 million in USDT stablecoins to purchase 23,393 ETH. The transaction was executed through two distinct cryptocurrency wallets. Analysts noted that approximately a year prior, the entrepreneur sold 12,886 ETH, with that deal occurring at a price of around $3,324 per coin.
Following the release of the Lookonchain report, one of the wallets ($0x3e6…Ef2f7) exchanged additional millions of USDT for Ethereum. Consequently, the total amount of coins acquired by the two wallets reached 24,968 ETH, with the combined value of the transactions approximating $56.5 million.
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As per Arkham’s data, the address $0x3e6…Ef2f7 still holds about $4.44 million in USDT and $8.64 million in AETHUSDT — a tokenized version of USDT within the Aave protocol. The second wallet ($0x431…10c91) has completely utilized its stablecoins for the purchase of Ethereum.
Earlier this week, it was revealed that Voorhees also bought tokenized gold — crypto assets XAUT and PAXG — totaling $23.7 million.
In recent days, large investors have resumed actively acquiring cryptocurrencies. Over the past week, the net inflow of funds into Ethereum-linked spot exchange-traded funds amounted to $160.8 million.
According to Lookonchain, the CEO of Intuition Protocol, Billy Luedtke, purchased 7,769 ETH on Sunday, March 15.
Additionally, the largest corporate holder of Ethereum, BitMine, recently acquired 5,000 ETH from the Ethereum Foundation for $10.2 million.
