The post Ethereum Co-founder Vitalik Buterin Transfers $8M in ETH to New Wallet appeared on BitcoinEthereumNews.com.

Coinspeaker Ethereum Co-founder Vitalik Buterin Transfers $8M in ETH to New Wallet Ethereum co-founder and prominent figure in the crypto industry Vitalik Buterin recently transferred $8 million worth of ETH to a new wallet address, sparking speculation about a potential donation to charity. Historically, Buterin has moved substantial amounts of Ethereum to various wallet addresses, which often turned out to be donations supporting charitable organizations and other noble causes. This caused Lookonchain to believe the latest transfer of 3,000 ETH worth approximately $8 million could “possibly be a donation”. The digital assets were sent to a multi-signature safe wallet, which Lookonchain suggests may belong to an unidentified charitable organization. $1 Billion Donation to Support Pandemic Heroes In addition to the 3,000 Ether, another blockchain security firm PeckShield detected he transferred 200 ETH worth $534,000 to an address labeled 0xEBb7…eB89. While it is not clear whether the funds are related to charity as suggested by Lookonchain, the Ethereum co-founder started making hefty donations to charities in May 2021. At the time, he sent over $1 billion worth of different cryptocurrencies to an Indian Covid-Crypto Relief Fund initiative established to support those affected by the Pandemic. This initiative was founded in the same year by Polygon co-founder Sandeep Nailwal, who initially funded it with $1 million. In 2023, Buterin continued his philanthropic efforts by making another donation to help fund research projects related to the virus. The group allocated $100 million for the research, with Buterin contributing an additional $10 million to kick-start the program. According to him, the funds will be used to conduct research aimed at improving indoor air quality to prevent the spread of coronavirus and investigating ways to mitigate the long-term effects of the virus. Buterin Donates to Open-Source Initiatives Beyond pandemic relief efforts, Buterin has also made…

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Filed under: News - @ August 9, 2024 5:12 pm