Suche
Mein Konto
Vitalik Buterin transferred 700 ETH to two different addresses
Ethereum co-founder Vitalik Buterin recently sent 200 ETH (about $350,000 at current valuations) to an address on crypto exchange Kraken and 500 ETH (over $875,000) to DeFi protocol Reflexer. He deposited the 500 ETH to mint 150,000 RAI tokens, exchanging most for USDC. The stablecoin has been going through some turmoil recently, falling away from its target after Circle uncovered a whopping $3.3 billion exposure to Silicon Valley Bank (SVB). The pen has since been restored. Buterin's final move As the analytics platform – Etherscan – revealed, transferred...
Vitalik Buterin transferred 700 ETH to two different addresses
Ethereum co-founder Vitalik Buterin recently sent 200 ETH (about $350,000 at current valuations) to an address on crypto exchange Kraken and 500 ETH (over $875,000) to DeFi protocol Reflexer. He deposited the 500 ETH to mint 150,000 RAI tokens, exchanging most for USDC.
The stablecoin has been going through some turbulence recently and detached itself from its targetafter Circle uncovered a whopping $3.3 billion exposure to Silicon Valley Bank (SVB). The pen has since been restored.
Buterin's last step
As the analytics platform – Etherscan – revealed, Buterin transferred 200 ETH to a wallet belonging to Kraken. At the time of writing, it remains unclear why he made this transaction.
On the other hand, he seems to have sent the 500 ETH to collect stablecoins. The blockchain security company – PeckShield – outlined that the computer programmer used the Ether stash as collateral for Reflexer to mint 150,000 RAI tokens. He later exchanged 132,500 RAI for 378,500 USDC and 17,500 RAI for 50,000 DAI.
#PeckShieldAlert Vitalik marked address has 500 deposited $ETH in Reflexer to mint 150k $RAI and exchanged 132.5k $RAI for 378.5k $USDC. Additionally they exchanged 17.5k $RAI for 50k $DAI within the last 3 hourshttps://t.co/dM1pheTW0x pic.twitter.com/camCgl1fsk
— PeckShieldAlert (@PeckShieldAlert) March 11, 2023
First, Buterin transferred 200 ETH to the DeFi protocol and then sent the remaining amount. Data from Etherscan shows that he paid over $200 to process the transactions.
The USDC rollercoaster
The second-largest stablecoin has been in the spotlight lately after briefly falling as low as $0.87 late last week (CoinGecko data). At that time, Circle – the company issuing the asset –discloseda massive $3.3 billion commitment to the failed Silicon Valley Bank. Despite the problems, the Boston-based company assured that it is continuing business as usual:
“…Circle will stand behind USDC, as required by law and pursuant to the Transfer of Money of Stored Value Regulation, and cover any shortfalls with corporate resources, incorporating external capital if necessary.”
USDC's valuation stabilized in the following days and is currently hovering around $1 (exactly what its price target should be).
The stablecoin currently has a market capitalization of almost $40 billion, making it the fifth largest digital currency.
.