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After transferring 500 ETH to Coinbase, Buterin was again accused of dumping

Cryptocurrency world personalities, such as Vitalik Buterin, often find that their transactions are carefully scrutinized by blockchain detectives tracking movements across various networks. Thanks to this, it has been revealed that Buterin’s Ethereum wallet consistently shows activity, with $3.79 million worth of ETH being transferred from it over a ten-day period in September.

In a discussion on the decentralized platform Warpcast, Buterin wrote that he has ‘not sold Ether for personal profit since 2018.’ According to him, these transfers are motivated by charitable intentions.

However, on December 19, 2023, information surfaced on social media about another transfer of 500 ETH by Buterin to Coinbase, corroborated by blockchain explorer data. This once again sparked speculation that he is selling ETH.

It’s worth noting that large cryptocurrency movements, whether by crypto whales or the movement of ‘sleeping bitcoins,’ do not automatically imply a sale. Similarly, if funds are transferred to an anonymous address, it does not necessarily indicate a sale.

Ultimately, Buterin may be using a centralized exchange like Coinbase to earn interest on deposits with the ability to withdraw funds at his convenience. Considering Coinbase’s role in managing donations for non-profit and charitable organizations, Buterin’s transfer may also involve donations, especially towards the end of the tax year.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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