Vitalik Buterin's crypto transfers total $4 million in 10 days

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Vitalik Buterin's crypto transfers total $4 million in 10 days

Vitalik Buterin, a renowned cryptocurrency guru and Ethereum co-founder, has moved nearly $4 million in just 10 days, which includes his latest transfer of 400 ETH to Coinbase over the weekend.

Over the past few weeks, buterin has been making headlines for his statements related to the cryptocurrency industry, as well as for the series of transfers he made.

Blockchain sleuths flagged multiple Ether transactions from a wallet connected to the cryptocurrency genius over the weekend, which collectively amounted to about $3.9 million.

Some X accounts that monitor blockchain activities shared details of the transaction, including the 400 ETH deposit to Coinbase, one of the largest crypto exchange platforms in terms of trading volume.

Bitcoin investor Buterin made a test transfer of 0.1 ETH to Coinbase ahead of a move of 399.9 ETH.

The wallet that made the deposit to Coinbase, 0x1Db3, currently holds 1,773.44 ETH, equivalent to roughly $2.77 million, and has other crypto assets, such as data from real-time blockchain tracker Spotonchain.ai.

In just a short span of 10 days, Buterin moved 2,421 ETH to various centralized crypto exchange platforms, with a portion of the funds transferred to Kraken, Bitstamp and Paxos. The initial transactions were started with a 0.1 ETH transfer.

Buterin's crypto transfers, as well as the dormant Bitcoin transactions and movements made by whales, always make their mark on the news.

While it is not clear what motivates Buterin to migrate his funds to centralized exchanges, the crypto community suggests that he was just redistributing his funds to his wallets to mitigate the risks of hacking or theft, a common practice among high-profile individuals with substantial holdings in the crypto industry.

Buterin is possibly taking a profit or cashing out considering the market is currently experiencing a downturn.

Buterin liquidated his remaining stake in MakerDAO, which is worth about $580,000, following the company's co-founder and CEO Rune Christensen publicly praising Solana blockchain's codebase.

In late August, an address linked to Buterin moved 3,000 ETH, equivalent to about $4.9 million at the time, to a Vb 2 labeled address.