Vitalik Buterin raises $4 million in 10 days

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Vitalik Buterin raises $4 million in 10 days

Vitalik Buterin, a crypto genius and Ethereum co-founder, has raised 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 regarding the cryptocurrency industry and for the series of transfers he has made.

Over the weekend, blockchain sleuths flagged multiple Ether transactions from a wallet linked to the crypto genius, which collectively amounted to about $3.9 million.

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

Buterin made a test transfer of 0.1 ETH to Coinbase before moving to 399.9 ETH.

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

In just a short span of 10 days, Buterin moved 2,421 ETH, worth $3.79 million, to various centralized crypto exchange platforms, with a portion of the funds transferred to Kraken, Bitstamp and Paxos. The initial transactions were initialized with a 0.1 ETH transfer.

Buterin's crypto transactions, as dormant Bitcoin transactions and moves made by whales, always make headlines.

While it is not clear what motivated Buterin to move his money to centralized exchanges, the crypto community suggests that he was just redistributing his funds to his wallets to mitigate hacking or theft risks, a common practice among prominent individuals who have substantial holdings in the cryptocurrency industry.

Some say Buterin is possibly taking a profit or cashing out because the market is currently experiencing a downturn.

In a statement, Buterin liquidated his remaining share of MakerDAO - worth about $580,000 - after it's co-founder and CEO Rune Christensen publicly praised Solana blockchain's codebase.

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