Ethereum co-founder sells 90k ETH to Kraken amidst reports that Vitalik Buterin plans to sell $25 million worth of the cryptocurrency.
Ethereum (ETH) co-founder and core developer, Jeffrey Wilcke, has reportedly sent 92,000 ETH ($11.5 million) to U.S. cryptocurrency exchange Kraken on Dec. 25.
While Cointelegraph reported early today about concerns that Ethereum co-founder Vitalik Buterin could be planning to sell $25 million worth of the cryptocurrency, a tweet sent by Jeffrey Wilcke indicates otherwise.
Source Twitter
Wilcke, whose GitHub shows he is the co-founder of Grid Games, made the claim that he needs the money to fund his game.
The proof is in the blockchain
In addition to Wilcke’s tweet, sources show that an ETH address registering the name of Jeff Wilcke moved 90,000 ETH to Kraken in full.
In January 2016, an account funded by the Ethereum Foundation dev wallet moved 408,000 ETH to an ox600 address. Between January 2016 and the end of this year, the address shows continual selling and movement of funds, yet this decreases sharply on Dec. 25.
While the address still has 218,000 ETH ($27 million), 90,000 of this was moved to an intermediary address and then sent in full to Kraken.
Monitoring resource etherscan shows the interaction was performed by the ox600 address.
Prior to Wilcke sending 90,000 ETH to Kraken, Vitalik Buterin revealed on a podcast that aired Dec. 11 that the Ethereum Foundation netted around $100 million by selling ETH at its last all-time high, when it was trading close to $1,400 in January 2018.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.