25 April, 2024

Vitalik Buterin Trades in 3,000 ETH For Around $4 Million in USDC

14 Nov, 2022

22 Nov, 2023

In three separate transactions on November 12, Vitalik Buterin, the creator of Ethereum, reportedly traded 3,000 ETH for about 4 million USDC on Uniswap V3. This information was gleaned through surveillance done by crypto tracking and compliance platform MistTrack.

It is interesting to note that Buterin’s dump occurred at a time when the cryptocurrency market was struggling to recover from the FTX breach and crisis. According to the data, the price of Ethereum on that day was an average of $1,261, and it was trading at that price.

The creator of Ethereum has provided some commentary on the ongoing drama surrounding FTX, in which he asserts that the actions of the exchange constitute an even more egregious case of fraudulent activity than those of the famed Mt. Gox and Terra exchanges.

He said that both the Mt. Gox and Luna situations appeared suspicious and didn’t try to whitewash themselves too much. Buterin performed some major compliance virtue signaling when he claimed that the FTX crash and associated events were the exact opposite. Even worse, he said, it’s not a good image for EA or for a ted talk, an idea that SBF relied on significantly.

FTX was established by Sam Bankman-Fried “SBF”, who also established Alameda, an investment company. According to many lines of evidence, Mr. Bankman-Fried used customer funds to patch financial problems at Alameda, which he had also established.

On November 11, FTX submitted its petition for protection under the bankruptcy laws. Over the course of the weekend, someone was successful in stealing $600 million from the platform; however, it is still uncertain if the theft was the work of a hacker or someone with authorized access to the company’s infrastructure.



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