Ethereum's co-founder, Vitalik Buterin, transferred $14.93 million in USD Coin (USDC) from his personal wallet to the Gemini exchange on Sunday, October 16, 2023. The funds, originally a sum of 14.93 million USDC from Kanro, a charity affiliated with Buterin, were reported by blockchain security company PeckShield and verified by Etherscan.
This move follows Buterin's transfer of nearly $500,000 to Coinbase (NASDAQ:COIN) three days earlier. Despite these significant transfers, Ether's price remained stable. This trend is consistent with recent large ETH deposits from Buterin’s wallets to exchanges. In September alone, the total transfers from Buterin's wallets exceeded $3.9 million.
Earlier in the year, Buterin made substantial ETH deposits to Coinbase: a 400 ETH transfer in September and a 600 ETH transaction in August. These transactions highlight the ongoing financial activity of Ethereum's co-founder.
In other cryptocurrency news, Justin Sun, founder of Tron, deposited $25.5 million worth of stablecoins into a specific Binance deposit address on an undisclosed date. The deposited amounts were $1.7 million in USDC, $2.8 million in TrueUSD (TUSD), and $21 million in Tether (USDT), all pegged to the US dollar for value stability. The exact purpose behind Sun's significant financial movement on Binance remains unclear as per the report by blockchain intelligence firm Arkham.
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