Photo credit: Chet Strange/Bloomberg

A multi-signature wallet “0xfEB,” which received 3,800 Ether (ETH) from Ethereum’s co-founder Vitalik Buterin, cashed out selling it for 1.835 million USDC, according to data from Arkham. 

The last transaction occurred on Sept. 8 at 06:07 UTC where approximately $434,500 worth of Wrapped Ether (WETH) was transferred to the CoW Protocol.  

In August, the crypto community began questioning Buterin’s transfers to the wallet after more than 3,800 ETH was transferred in two separate transactions. Lookonchain, a blockchain analytics platform, noticed that Buterin transferred more than $10 million worth of ETH in two separate transactions on Aug. 8 and Aug. 20, respectively. 

The conversation about Ethereum’s co-founder intensified when a crypto investor under the pseudonym of CoinMamba claimed Buterin was “ignoring all the talk about him selling ETH.” When another user remarked that Buterin is allowed to take profits, Ethereum’s founder replied back, saying:

“I haven't sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (eg. biomedical R&D)”

Ethereum’s founder also mentioned that he will donate all the proceeds to either support the public goods within the Ethereum ecosystem or broader charities such as biomedical research and development. 

Highlighting the reason behind the donations, Buterin claimed that he will support valuable projects, “especially in cases where other parts of the ecosystem might undervalue them.” 

Although Buterin faced some criticism for his stance regarding selling tokens for donations, some users came in support claiming that he owes “no one an explanation.” 

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