Vitalik Buterin Fuels Coinbase with $1M ETH!

[sesterceshop]

Just yesterday, Vitalik Buterin made a move that caught my attention – he sent over $1 million worth of ETH to the Coinbase crypto exchange. Now, I can't help but wonder what's behind this decision. Is he eyeing a flashy new car or some real estate perhaps? Or maybe, just maybe, he's got some heartwarming plans, like supporting charitable initiatives in Ukraine or Hawaii. Your guess is as good as mine!

https://www.coindesk.com/markets/2023/08/21/ethereum-co-founder-vitalik-buterin-sends-1m-eth-to-coinbase/

[@sriyan]

Just yesterday, Vitalik Buterin made a move that caught my attention – he sent over $1 million worth of ETH to the Coinbase crypto exchange. Now, I can't help but wonder what's behind this decision. Is he eyeing a flashy new car or some real estate perhaps? Or maybe, just maybe, he's got some heartwarming plans, like supporting charitable initiatives in Ukraine or Hawaii. Your guess is as good as mine!

https://www.coindesk.com/markets/2023/08/21/ethereum-co-founder-vitalik-buterin-sends-1m-eth-to-coinbase/

I think he will stake the ETH on the Coinbase pool and get the CbEth. Then he will add CbEth into the eigen layer to get more points. So he will be eligible for eigen layer airdrop as well. This is just an idea.

[noorman0]

This person is the most generous. Based on history when he has donated hundreds of thousands of dollars worth of SHIB tokens in the past to covid relief charities, I believe the big spend this time is not far off from a similar initiative. Yes, I've been reading a lot in the news lately about the massive fires in Hawaii, maybe it's related to that.

I think he will stake the ETH on the Coinbase pool and get the CbEth. Then he will add CbEth into the eigen layer to get more points. So he will be eligible for eigen layer airdrop as well. This is just an idea.

I just found out that Vitalik recently changed professions to become an airdrop hunter, while he still has thousands of ETH in his savings.

[mich]

Well that is alot of Ethereum to move on Coinbase 600 of them. There is only 2 things he can be doing with them.

He is going to sell them because he is in fear of price drop. Or we can hope he is only going to stake them.

[With Gusto]

Why would anyone with that much experience go near Coinbase? Their fees are crazy high for anything you try to do - so maybe it is related to charity - which still leaves the question why choose to lose so much in fees?

[martinex]

Yes, this step taken by the founder of ETH has fueled speculation among the crypto community regarding the intentions behind the transaction, especially amidst the significant Ethereum price fluctuations even though this is not the first time Buterin has transferred assets to a crypto exchange. regarding returning donations after the Hawaii fire disaster or supporting charitable initiatives in Ukraine I thought it would be worth waiting for reconfirmation from vitalik himself but this is definitely getting some attention.

[o48o]

I think he will stake the ETH on the Coinbase pool and get the CbEth. Then he will add CbEth into the eigen layer to get more points. So he will be eligible for eigen layer airdrop as well. This is just an idea.

Why would he support cex as a staking tool when he can stake it by himself?

Just yesterday, Vitalik Buterin made a move that caught my attention – he sent over $1 million worth of ETH to the Coinbase crypto exchange. Now, I can't help but wonder what's behind this decision. Is he eyeing a flashy new car or some real estate perhaps? Or maybe, just maybe, he's got some heartwarming plans, like supporting charitable initiatives in Ukraine or Hawaii. Your guess is as good as mine!
-cut-

He could donate directly from his wallet, he doesn't need to deposit it to coinbase for that.

Only reason i see for that move is selling it for money, or selling to buy some other cryptos with it. My guess is selling. It's not that unusual that people need fiat money for investing and spending, especially in current economic athmosphere.

[tsaroz]

I think he will stake the ETH on the Coinbase pool and get the CbEth. Then he will add CbEth into the eigen layer to get more points. So he will be eligible for eigen layer airdrop as well. This is just an idea.

Why would he support cex as a staking tool when he can stake it by himself?

Just yesterday, Vitalik Buterin made a move that caught my attention – he sent over $1 million worth of ETH to the Coinbase crypto exchange. Now, I can't help but wonder what's behind this decision. Is he eyeing a flashy new car or some real estate perhaps? Or maybe, just maybe, he's got some heartwarming plans, like supporting charitable initiatives in Ukraine or Hawaii. Your guess is as good as mine!
-cut-

He could donate directly from his wallet, he doesn't need to deposit it to coinbase for that.

Only reason i see for that move is selling it for money, or selling to buy some other cryptos with it. My guess is selling. It's not that unusual that people need fiat money for investing and spending, especially in current economic athmosphere.

It's been said that Buterin has been depositing and selling his ETH for quite a time now. In this year only, he deposited over 3.6 million USD on different exchanges and cashed out. The current 1 million puts it to 4.6 million. He has been donating a lot so this could be another attempt at charity.
But with the pace on which he's emptying his wallet, we can also predict he has lower confidence on ETH and maybe the market as a whole. 

[someone703]

Selling it, it's that simple, it doesn't need to be complicated, but only the OP and many other media channels I've looked at are talking about the story of early exit, I really want to say "wtf? what the hell do you think? what's up?" with 600 ETH I think a lot of people own it, and moreover it's Vitalik he can't do anything with it. Anyway, there's no need to speculate on it, things will soon be seen and the suspicions of many people I can't understand.

[yazher]

Surely he will enlighten the crypto community about this move since it is already transparent and mostly everyone knows about his move because this is the same news I read a while ago. People like them shouldn't make public transactions that will make noise without informing the public of the reasons for it because it creates multiple speculations positive and negative mostly negatives until he clears it out. Judging by this guy's knowledge, he wouldn't do something stupid and give some of his competitors a chance to talk ill about him, especially his moves.

[bettercrypto]

Just yesterday, Vitalik Buterin made a move that caught my attention – he sent over $1 million worth of ETH to the Coinbase crypto exchange. Now, I can't help but wonder what's behind this decision. Is he eyeing a flashy new car or some real estate perhaps? Or maybe, just maybe, he's got some heartwarming plans, like supporting charitable initiatives in Ukraine or Hawaii. Your guess is as good as mine!

https://www.coindesk.com/markets/2023/08/21/ethereum-co-founder-vitalik-buterin-sends-1m-eth-to-coinbase/

Well, in the first place we don't know what He is planning for, He may have a plan for doing this, and there are a lot of reason that we can think of this deeds he made for depositing a large amount of money using coinbase. But whatever it is, I am pretty sure He will get benefited from it.

And I think one of the reason of why He do it is that Vitalik probably planing to stake that amount while holding it, especially He could be preparing for the bull run season coming as well in 2024, that is very much possible for sure.

[BitcoinWalker]

It's his money so he can do whatever he likes. He is certainly an ETH whale, but moving his coins to Coinbase doesn't necessarily mean he's gonna sell them. $1 milly is a good amount though.

[avikz]

I see a lot of speculations are going in the market. But at the end of the day, I feel Vitalik will probably sell some of this to fulfill his personal financial goal. As Bitcoinwalker correctly said, it's his money so he has got every right to decide what to do with it.

But I am sure Vitalik would not do any such things which will crash the market. Afterall, ETH is his baby and no father would want to bring down the reputation of his own baby. But let's wait and watch!

[blockman]

Vitalik is also a human just like us. No matter what the reasons might be, he just wanna dump and take all the money with him. That's why I don't know why this trend is always there that if someone is known or not sends millions worth of crypto to an exchange, it's always in the headlines.

It's his money so he can do whatever he likes. He is certainly an ETH whale, but moving his coins to Coinbase doesn't necessarily mean he's gonna sell them. $1 milly is a good amount though.

Yeah, although I am sure that he's rich enough. He can sell whenever he wants and if he's in need of more money, he can always get from his ETH stack.

[JeffBrad12]

I guess a man needs money, after all hes got to have something he really dreamt of. after all like many have stated he's still a human, but we all know so far that he has done so much for charity.
but i think vitalik is always donating money to charity using ethereum directly I guess.
so even if he did allocate all those money for charities alone i'd not be surprised, but then again its his money, he can do what he likes with it, whether buying real estate or even new car i will definitely not gonna care.
regardless though such amount of money is relatively small for vitalik and not even gonna give changes towards the tide of the market, its not even gonna give slight change towards the wellbeing of the market.

[AmoreJaz]

I guess a man needs money, after all hes got to have something he really dreamt of. after all like many have stated he's still a human, but we all know so far that he has done so much for charity.
but i think vitalik is always donating money to charity using ethereum directly I guess.
so even if he did allocate all those money for charities alone i'd not be surprised, but then again its his money, he can do what he likes with it, whether buying real estate or even new car i will definitely not gonna care.
regardless though such amount of money is relatively small for vitalik and not even gonna give changes towards the tide of the market, its not even gonna give slight change towards the wellbeing of the market.

that is true, why give so much fuss about it? worry if he is about to dump all his holdings and get away. but it is not. such amount is small enough to abandon his crypto projects. of course, he has his reasons, but it is not our business to know such. he's a known personality in this market, hence, making a wave whenever he made such move like this.

[X-ray]

It's his money so he can do whatever he likes. He is certainly an ETH whale, but moving his coins to Coinbase doesn't necessarily mean he's gonna sell them. $1 milly is a good amount though.

True, people were speculating too much about him. He is just a human like us who is also having his own daily needs. People were always speculating like he doesn't need money for his daily life. Vitalik does anything like us every day.
As long as it was not 1 billions worth ETH that will be dumped to the market and im still feeling fine with it. People are worrying about it too much. 

[Adreman23]

I guess Vitalik Buterin might have sent over $1 million worth of ETH to Coinbase with the intention of trading or investing in other cryptocurrencies or assets available on the platform.

[aseprebel]

maybe Vitalik Buterin's contribution of ETH to Coinbase could be seen as a way of further supporting the Ethereum ecosystem. If the funds were used for development, research, or initiatives related to Ethereum's growth, it could be seen as a positive step for the network.

[o48o]

It's been said that Buterin has been depositing and selling his ETH for quite a time now. In this year only, he deposited over 3.6 million USD on different exchanges and cashed out. The current 1 million puts it to 4.6 million.

And why shouldn't he. I totally would cash something out all the time at the point he is. And while i am not sure if he cares about the price, he is smart enought to sell at the right time. So he must see a possibility that this price is far from a bottom.

He has been donating a lot so this could be another attempt at charity.
But with the pace on which he's emptying his wallet, we can also predict he has lower confidence on ETH and maybe the market as a whole.  

But if it would be charity, why would he need to deposit it to coinbase? There are many charity organisations that take cryptocurrencies. And then there's the fact that even if this is charity, it still is going to be changed to fiat money at some point and it creates some sell pressure.