Aug 21, 2023

Data from Ethereum blockchain scanning website etherscan shows that Vitalik Buterin deposited 600 ether (ETH), which is worth roughly $1 million, to crypto exchange Coinbase.

Video transcript

Vital has moved some Ethereum about a $1 million worth Ethereum to coin base. What does this mean? Well, might indicate that he's willing to sell a little bit. He moved about 600 to coin base over the weekend. Vitals, public addresses for his Ethereum holdings are out there. Most people know where they are. They're visible on most uh either scans or like Blockchain explorers out there. And for good reason, right? He's probably the most central figure head in all crypto because he's uh the front man or the image of Ethereum ecosystem, which is the largest smart contract ecosystem and the second largest coin by market cap behind Bitcoin. So when people see vital or anyone else moving money uh with that big of a name out there, they start paying attention. Of course, we don't know if he sold this Ethereum and we also don't know the reasons behind it. Maybe he just wanted to get some more cushion for uh his US D bank account. Who knows Zach? I'll throw this one up to you. I don't look at this story and be like, oh, this is like a, a big ominous bad dark cloud story. I just think our boy is, you know, he's traveling all over around the world, he needs some money. Hey, man, I'm with you. I think big picture like this is the funny thing about crypto, right? You get to watch this stuff happen, you just get to see it. You're like, oh we know that this is a wallet associative of tal and you know, he chose to keep that in the public domain essentially. And now we can sort of see the the flows of money across uh the world into these exchange addresses, right? So it is just kind of a funny feature of crypto and I never, it never, it never gets dull to me that we can have these conversations based on, on chain activity and unchain activity alone, right? We don't know his intent. We don't know why we don't know what's, what's happening. We just know that we can watch this thing move from point A to point B and deduce, maybe that there's something uh animating that, right? And I think that's a really funny feature of crypto that we can talk about these things. Um without any other knowledge, aside from the fact that we just know one wallet interacted with another, and therefore we know this one happens to be vital and we can speculate on whatever the million dollars is gonna be for if it's for, you know, I don't know, getting more travel luggage. So he can go to different places around the world or not. But, yeah, I don't know. There's not much to say here. I don't know, is gonna, like, change people's price project like projections for Ethereum. Right? Or if it change, I don't think this indicates that like, vital is any less bullish on his creation. But it is just kind of a funny thing. Um, least blotter section of like Ethereum Daily News that you can, uh, I don't know, read with your morning coffee. Well, I say really quick before I hand it over to Wendy. Uh, the funny part about this is the Ethereum Foundation, which of course is a steward of a lot that happens in Ethereum does sell the top almost every single cycle. They have like successfully sold the top on Eth and they put that money back into the Treasury to support grants for Ethereum ecosystem. So it ends up, I think being a net positive. But a lot of people look at when the Ethereum Foundation sells and then sort of make a note about that. And this one, people, obviously not at the top. We're down about, you know, 50 plus percent from the top in 2021 2022. But people might be looking at this and be like, oh, maybe we're looking at like another lower point in the future. If Italic is selling Wendy, it's a one, it's one, literally $1 million. It's really not a lot of money, especially when you're looking at Crypto Whale Wall. It's like there's so many people that are moving around a lot more capital that are loaning it out doing things. I also want to reference a story from coin desk back in March or excuse me, May 17th of 2021 vital 6 billion in ship token says he doesn't want the power so vital has kind of been infamous of doing different things with his funds and wallets that have been tracked. So I don't think it's necessarily a big deal that he moved 1 million of worth to coin base. I think if it was going to be a very, very large amount, it probably would be done. OTC. Um but maybe he just wanted the, hey, maybe he wanted to bridge the funds over to base or to um friend who knows, who knows? Yeah, Wendy, this isn't the first time Vital has sold either. So I don't think this is gonna like do anything to the markets, but I wanted to ask all of you a question based on what said, what do we think if, if vital does cash out a million dollars here, what do we think he's gonna buy? What luxury luggage does vital buy. I love his luggage post. That's one of the better blogs out there is how vital lives out of a 40 liter backpack and here's how he does it. That one is a good piece of content. A lot of 40 liter backpacks. If we're talking a million dollars, I don't think it's that hungry. Maybe he's hungry. He gotta buy snacks. A lot of backpack. All right. Don't know. Don't know.

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