Ethereum Co-founder Vitalik Buterin Moves $15M of USDC to Gemini

Vitalik Buterin, the co-founder of Ethereum, recently made a substantial transfer of USD Coin (USDC) to Gemini, one of the leading crypto exchanges in the US. According to PeckShield, a blockchain analyst company, report on Oct. 17, Buterin’s wallet named “Vitalik.eth” sent 14.93 million worth of USDC to Gemini on Oct. 16.

Vitalik Received USDC From Kanro Charity

Kanro, a charitable organization affiliated with Vitalik and dedicated to supporting open-source research on airborne pathogens, is the source of the USDC. On October 14th, Kanro transferred 14.93 million USDC to Vitalik.eth.

Recent data from Lookonchain, a crypto data provider, reveals that this transaction was not the only one involving Buterin. Just three days earlier, on October 14th, he also deposited nearly $500,000 into Coinbase.

Ethereum Price Unaffected by Vitalik’s Transfer

According to CoinMarketCap, the price of Ethereum’s native currency Ether (ETH) remained relatively unaffected by the recent transfer news, with only a minimal drop of 0.62% in the past six hours.

It is not uncommon for Buterin to move substantial amounts of ETH or USDC to centralized exchanges. In September, he transferred over $3.9 million worth of crypto assets to Coinbase and Gemini while also sending 600 ETH ($1 million) to Coinbase in August.

Buterin’s Ongoing ETH Deposits to Exchanges

According to on-chain analytics firm Lookonchain, recent data reveals that Vitalik Buterin, co-founder of Ethereum, has been making substantial deposits of Ethereum (ETH) to popular cryptocurrency exchanges.

One notable transaction involved the movement of 1,000 ETH tokens worth approximately $1.64 million to the Bitstamp exchange. Additionally, over the past two months, the same address associated with Buterin deposited a total of 4,400 ETH into Bitstamp, totaling around $7.23 million.

These ongoing deposit activities by Buterin have resulted in transfers exceeding $3.9 million in September alone. Noteworthy transactions include a transfer of 400 ETH valued at $600,000 to Coinbase on Sept. 24 and a transfer of 600 ETH equivalent to $1 million from the vitalik.eth address on Aug. 21 as previously reported by on-chain monitoring platforms.

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Kashif Saleem

Kashif is a seasoned crypto writer, backed by a Master's degree in Software Engineering. He has been head-over-heels for cryptocurrencies since 2019, diving deep into the Cryptoverse and has authored more than 1k articles on cryptocurrency and blockchain. Follow him on X & LinkedIn or reach him at [email protected].

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