Vitalik Buterin-linked biotech charity Kanro transfers $15M to fund grant
Ethereum co-founder Vitalik Buterin has been involved in a recent $15 million USD Coin (USDC) transaction that has attracted attention in the blockchain community. The transfer, which was initially reported as Buterin sending the funds to the Gemini crypto exchange, has now been clarified by the Ethereum Foundation as Buterin’s Ethereum Name Service (ENS) signing off on a transfer from a charity multisig wallet to fund a grant.
Background of the Transaction
The transaction involved a transfer of $14.93 million USDC from Kanro, a biotech charity associated with Vitalik Buterin, to Buterin’s wallet on October 14. Buterin then signed off on transferring the same amount to a new multisig wallet address. Kanro, a charity funded by Buterin, focuses on addressing Covid and other pandemic-related issues. The entire transaction was done for the purpose of funding a grant.
Additional Transfers by Buterin
In addition to the Kanro transfer, Buterin has reportedly made other significant transfers. Three days prior to the Kanro transfer, Buterin allegedly transferred nearly $500,000 to Coinbase. These transactions, along with previous transfers over the last few months, bring the total amount transferred from Buterin’s wallets to over $3.9 million in September alone.
Impact on Ethereum’s Native Currency
The news of these transfers did not have a major impact on the price of Ethereum’s native currency, Ether (ETH). Following the announcement, ETH experienced a minimal decrease of just 0.68% in the past four hours. The price held steady despite the significant transfer.
Vitalik Buterin’s involvement in the $15 million USDC transfer has shed light on the important work being done by his biotech charity Kanro. The funds transferred will be used to support grants aimed at addressing pandemic-related issues. Despite the large amount involved, the impact on Ethereum’s native currency appears to be minimal. This transaction highlights Buterin’s continued contributions to the crypto and charitable communities.
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