Ethereum Co-Founder Vitalik Buterin Moves $8M in Ether to Multi-Signature Wallet

• Vitalik Buterin transferred 3,000 Ether, worth $8 million, to a multi-signature wallet, sparking speculation of a potential donation.
• Cryptocurrency donations are growing rapidly, with predictions that crypto charity contributions could exceed $10 billion by 2032.
• Buterin’s use of multi-signature wallets emphasizes his commitment to security and privacy in the cryptocurrency space.

Ethereum co-founder Vitalik Buterin has moved 3,000 Ether, valued at over $8 million, to a new multi-signature wallet. This transaction, first reported on August 9 by blockchain intelligence firm Lookonchain, has sparked speculation within the cryptocurrency community. 

Given Buterin’s history of making substantial cryptocurrency donations, the move could indicate another charitable contribution in the making.

Speculation of Another Donation

The transferred funds were sent from the address that is publicly associated with Buterin, namely, vitalik. eth, to an unknown wallet starting with ‘0fEB.’ This wallet could be connected to a charity. Previously, Buterin attracted the attention of the media with large-scale donations, namely, for $1. 

Crypto Lender, FAT for short, sent a $2 billion donation to the Indian Covid-Crypto Relief Fund in May 2021. Apart from this, he/she has also contributed millions in other such coins as Shiba Inu and Akita to non-profit organizations.

Buterin’s History of Philanthropy

This $8 million transfer has not occurred in isolation from other similar transfers. Buterin has been using cryptocurrency wealth for charitable contributions as well, although he has remained consistent with it. 

In July, he or she gave 100 Ether which is approximately equal to $300,000 to the 2077 Collective which is a community-based organisation that aims to create awareness about Ethereum. These donations go to show that Buterin still has a strong passion for using blockchain for the common good, a cause that is slowly starting to gather steam all across the world.

This explains why crypto contributions are on the rise and very efficient when it comes to disasters, within the shortest time surpassing the conventional monetary systems. Therefore, based on the information provided by The Giving Block, which is a popular crypto charity platform, cumulative crypto donations were more than $125 million in 2022.

 In their report, they note that global crypto donations may go past $10 billion in 2032 with critical markers in between. It reveals the trend in the development of DA and shows that these assets are capable of making a positive shift in the world.