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Vitalik Buterin, the co-founder of Ethereum (ETH), recently refuted speculations that he might be selling his ETH holdings, stating that he has not sold any of this digital asset for personal gain since 2018.

“I have not sold ETH for personal gain since 2018,” he said.

Recently, some media outlets claimed that wallets associated with Buterin were sending ETH to exchanges, implying that he was selling the cryptocurrency.

In this context, according to Etherscan data, a wallet linked to the co-founder of Ethereum sent a total of 1,000 ETH to exchanges, unknown addresses, and a Gnosis Safe Proxy wallet within seven days in September.

These transactions followed a similar trend to other transactions made in August and March, leading to speculations that Buterin might be quietly diversifying his assets.

ETH Donation Claim

However, in a Warpcast episode dated October 17, Buterin clarified that the reported transactions were “donations to charities, non-profit, or other projects.”

Buterin stated that these transactions were not him directly selling assets, but that “the recipients had to sell to cover expenses.”

This statement is consistent with the recent transactions made by Kanro, one of the charities associated with Buterin. Kanro sent $15 million worth of USDC stablecoin to a multi-signature wallet last week. This wallet later sent two transactions to Coinbase totaling $500,000 and $14.93 million to Gemini.

Meanwhile, according to Arkham Intelligence data, Buterin holds approximately 250,000 ETH units worth about $390 million in his address.

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