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Ethereum ETH News

Ethereum co-founder sells 92,000ETH

Christmas day 2019, approximately 205,000ETH ($25M) were sent to Kraken, Huobi and Binance. According to the blockchain analytics company ViewBase, the 92,000ETH ($11.5M) that were sent to Kraken were sent from a single wallet which was mostly funded by Vitalik Buterin himself. Therefore, they assumed that “the whale is likely an ETH dev or VB himself”.

Jeffrey Wilcke, both Ethereum’s and Grid Games’ co-founder, tweeted and deleted: “Jesus Christ. Nothing goes unnoticed. Need money for my game, yo”;  It was screenshot by Richard Burton who suggested that since Jeff was awarded so much ETH, that he should use some of it to help Ethereum in this rough patch.

Ethereum will soon be undergoing the transition from Proof-of-Work to Proof-of-Stake which may take a few years to fully complete. In turn, this will open up a large window of opportunity for other smart-contracts platforms to possibly take over Ethereum’s place.

This type of sale is not the first of its kind and causes a certain level of scepticism among investors. The most popular one was Litecoin’s creator, Charlie Lee’s sale at the peak of the 2017 bull-run. Another less known one, which was revealed much later was by Vitalik Buterin himself when he sold approximately 70,000ETH for $100M, price above $1,400 per ETH, for the benefit of the Ethereum foundation.

Image Licensed via Pixabay

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