Ethereum co-founder Vitalik Buterin appears to have reportedly transferred about 40,000 ETH, approximately worth $48 million. The said transfer emanates from a wallet with which he has an association.

On-chain data shows that the ETH was transferred from the multisig address 0x22…3a9d, named Vb 3, linked with Vitalik Buterin.

Vitalik Buterin did send the 40,000 ETH from Vb 3 to the address 0xD04…8fd7. Vb 3 currently holds about 250,000 ETH, approximately $300 million. The receiving address holds 64,301 ETH, approximately $76.5 million.

At the time of writing, Ethereum is trading at $1,200.93, up 3.93% in the last 24 hours. The FTX crash did affect the prices of prominent cryptocurrencies, and even Ethereum was not spared.

Meanwhile, the FTX hack situation caused enough panic across the Cryptoverse. The hacker in question initially swapped around 48.27 million DAI tokens for 37.57K ETH. Later, the hacker went on to swap millions of dollars in ETH for Ren Bitcoin (renBTC).

Even Vitalik didn’t stay still amidst all these debacles as his wallet reportedly dumped around 3000 ETH tokens. Vitalik swapped the said ETH for $4 million USDC. He did so in three transactions on the DeFi automated market maker Uniswap V3, on November 12.

The community is debating on Vitalik’s actions regarding the sudden transfers and dumping of Ethereum. Well, they have been on their toes since the FTX debacle. They are also closely monitoring every movement made by the industry biggies.

The Ethereum co-founder even released a blog post a few days back, with the help of former Coinbase CTO Balaji Srinivasan. In preparing the said blog post, the staff members of Binance, Coinbase, and Kraken also assisted.

In the blog post, Vitalik Buterin analyzes how to bring centralized exchanges (CEX) near to trustlessness, the limitations of current strategies, and some new concepts that depend on ZK-SNARKs, etc.

The Ethereum co-founder stated, “In the longer-term future, my hope is that we move closer and closer to all exchanges being non-custodial, at least on the crypto side.”