Blockchain transaction tracking is an invaluable tool for insights into crypto markets. But a recent false alarm highlights the need for human context before drawing conclusions.
When analytics firm PeckShield reported that Vitalik Buterin transferred nearly $15 million in USDC to Gemini, it made waves on crypto X. The Ethereum co-founder seemingly cashing out would be an eyebrow-raising event.
#PeckShieldAlert #vitalik.eth haas transferred ~15M $USDC (Multisig Contract 0xf207…D5a3) to #Gemini pic.twitter.com/6FZGKLKg9Z
— PeckShieldAlert (@PeckShieldAlert) October 17, 2023
Keypoints
- The Ethereum Foundation clarified Buterin just signed off on a transfer from a charity multisig wallet, funds didn’t leave his wallet.
- The original $14.93 million USDC came to Buterin’s wallet from his affiliated bio-tech charity Kanro a few days prior.
- Separate analysis showed Buterin also transferred around $500,000 to Coinbase recently.
- Buterin has…
