Ethereum Co-Founder Vitalik Buterin Sends $1M ETH to Coinbase
Vitalik Buterin transferred over $1 million worth of ether to crypto exchange Coinbase on Monday.
Aug 21, 2023 at 10:09 a.m. UTC
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The move comes as ether, the second largest cryptocurrency by market capitalization suffered a 10% decline over the last seven days, amid a broad market downturn which saw traders witness $1 billion in liquidations. Ether has recovered slightly on Monday, trading in the green over the last 24 hours at $1,700.
On Sunday, Buterin repaid 250,000 RAI and withdrew $1.6 million worth of ether, according to on-chain tracker, lookonchain. RAI is a non-pegged stablecoin backed by ETH.
It is not clear why the Ethereum co-founder transferred the ether to centralized exchange Coinbase.
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Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.
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