Even if Vitalik Buterin sells some ETH from time to time, it will not have a significant impact on the long-term development of the Ethereum ecosystem.

Author: The Block, Yogita Khatri

Translation: Jordan, PANews

As a co-founder of Ethereum, Vitalik Buterin's every move is always under scrutiny, and his wallet address dynamics have become a "reference" for crypto investors to gauge industry trends, sometimes even triggering market reactions and affecting cryptocurrency prices.

On October 18, Vitalik Buterin clarified on social media, "If you see an article saying 'Vitalik sent *** ETH to a certain exchange,' then it's not actually me selling. I have donated to certain charities, non-profits, or other projects, and these sales transactions were made by the recipients of the donations because they need to pay some fees. But since 2018, I have not sold ETH for personal gain."

However, Vitalik Buterin did not disclose which charities, non-profits, or other projects he donated his ETH to. But Vitalik Buterin does indeed have a charity organization of his own called Kanro (Vitalik Charity). To avoid misunderstandings within the crypto community that Vitalik Buterin is using his charity organization to "cash out," we found the wallet address of Kanro to investigate.

How much money does Kanro (Vitalik Charity) have? Has it sold ETH?

In June of this year, Vitalik Buterin revealed his charity entity Kanro on social media, aiming to contribute to the fight against Covid-19 and other pandemics. At that time, he announced that he would invest $100 million through the charity entity in Covid-19 related research projects and also publicly disclosed Kanro's wallet address information.

Data analysis platform Arkham's tracking data shows that about four months ago, approximately $100 million worth of cryptocurrencies were transferred to the Kanro address (coinciding with Vitalik Buterin's promise to provide $100 million in donations), as shown in the image below, including:

• Approximately 90 million USDC
• 372,400 MVRS
• 777 LKT
• 1,000 MTV

According to on-chain transaction records, Vitalik Buterin did indeed transfer ETH to Kanro, but only 0.01 ETH, so it was likely for testing or other purposes, and Kanro subsequently transferred the 0.01 ETH back to Vitalik Buterin.

However, just a week ago, funds flowed out of Kanro's wallet address, with over 15 million USDC transferred in three transactions to a Gnosis Safe multi-signature wallet address starting with "0xf20."

Subsequently, the USDC was transferred to three addresses in two cryptocurrency exchanges, Coinbase and Gemini, as shown below:

• Transferred to Coinbase (0x572): 24,899 USDC
• Transferred to Coinbase (0x060): 24,999 USDC
• Transferred to Gemini (0xf67): 14,934,000 USDC

Currently, the total value of the remaining crypto assets under Kanro (Vitalik Charity) is approximately close to $75 million, including about 74.567 million USDC, 1,000 MTV, and 372,400 MVRS. However, the amount of ETH held within this charity entity is shown as zero, as seen in the image below:

Therefore, from a technical standpoint, it is indeed as Vitalik Buterin stated, that he has "not sold ETH for personal gain."

How much ETH does Vitalik Buterin personally own?

Vitalik Buterin co-founded Ethereum in 2015. In October 2018, he publicly disclosed his holdings of ETH on social media, stating that he did not hold the 900,000 ETH as claimed by the public, and his personal net worth never reached $1 billion, but he did own 0.9% of the total supply of ETH at the time, which was approximately 75 million. This means that Vitalik Buterin personally held about 675,000 ETH.

According to Simon Cousaert, the data director of blockchain media The Block, based on Vitalik Buterin's publicly disclosed wallet addresses, he should currently hold about 250,000 ETH, which at the latest price would be worth about $390 million. Simon Cousaert added that over the past few years, Vitalik Buterin has sent about 205,000 ETH to exchanges through these public addresses. However, it should be noted that Vitalik Buterin likely also holds ETH in undisclosed wallet addresses or has sent it to other parties.

According to the analysis by The Block Pro shown in the image above, as of now, Vitalik Buterin has sent about 30% of his total ETH holdings, approximately 208,000 ETH, to exchanges, which, according to his statement, were used for donations and other purposes.

As a co-founder of Ethereum, although Vitalik Buterin holds a large amount of ETH, he is unlikely to "sell off" in a short period of time for cash, as project founders in Rug Pull projects might do. On the other hand, Vitalik Buterin's role in the entire Ethereum ecosystem is gradually becoming more "decentralized," as the development and innovation of Ethereum have begun to be maintained and driven by a large number of developers, contributors, supporters, and users in the community. Therefore, even if Vitalik Buterin sells some ETH from time to time, it will not have a significant impact on the long-term development of the Ethereum ecosystem.

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