Gemini receives 15 million USDC from Ethereum co-founder Vitalik Buterin

By: Henry Felix

Gemini receives 15 million USDC from Ethereum co-founder Vitalik Buterin

October 17, 2023 8:10 AM

Blockchain investigators detected a $14.9 million USDC movement coming from a wallet linked to Vitalik Buterin.

To the attention of blockchain detectives, Ethereum co-founder Vitalik Buterin recently sent USD Coin (USDC) worth $14.9 million to the cryptocurrency exchange Gemini from a wallet associated with him.

The blockchain analytics group PeckShield on X reported on October 17 that Buterin's wallet, "vitalik.eth," sent $14.93 million to Gemini on October 16.



On October 14th, the Buterin-affiliated charity Kanro gave Buterin the initial cash of $14,931,000 USDC.

Lookonchain, a source of cryptocurrency statistics, independently discovered that three days previously, Buterin had moved roughly $500,000 to Coinbase.


According to data compiled by CoinGecko, the value of Ether (ETH), Ethereum's native currency, has declined by only 0.68% in the previous four hours since the transfer was announced.



The transfer announcement had little effect on the price of Ether (ETH).

In September alone, Buterin transferred more than $3.9 million from his accounts to centralized exchanges, the most recent in a string of such transactions.

On September 24th, Buterin sent 400 ETH to Coinbase, which was valued at around $600,000. On August 21, Cointelegraph reported a 600-ETH ($1 million) transaction from the Vitalik.eth address, which was later confirmed by on-chain monitoring services.