Vitalik Buterin Moves Millions in Ethereum to New Wallet

Vitalik Buterin has transferred over $8 million in Ether to a new multisignature wallet.

The Ethereum co-founder moved 3,000 ETH, valued at around $8.05 million, possibly indicating a charitable donation, according to blockchain intelligence firm Lookonchain. The funds were sent to an unknown wallet, “0xfEB,” which could be linked to a charitable organization.

This transfer follows Buterin’s previous high-profile donations. In May 2021, he donated more than $1.2 billion worth of Shiba Inu tokens to the Indian Covid-Crypto Relief Fund. He has also contributed over $441 million in Akita coins to the Gitcoin platform and made other notable donations in memecoins.

Crypto donations are rapidly gaining traction due to their efficiency and broad reach. The Giving Block forecasts that cryptocurrency donations could surpass $10 billion within the next decade.

Their 2023 report noted that total crypto donations on their platform exceeded $125 million in 2022, with projections reaching $1 billion by August 2027, $5 billion by June 2031, and $10 billion by November 2032.

In addition to crisis-related donations, crypto is also making inroads into politics. Former U.S. President Donald Trump recently announced that his presidential campaign would accept cryptocurrency contributions.