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Charity in biotech connected to Vitalik Buterin Kanro gives a donation of $15 million.

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A notable stir arose when blockchain analysts red-flagged a transaction, ostensibly from Vitalik Buterin to the Gemini crypto exchange. Contrary to this assertion, a spokesperson from the Ethereum Foundation clarified the situation.

Shedding light on a recent $15 million USD Coin transaction involving Ethereum co-founder Vitalik Buterin, the Ethereum Foundation illuminated a matter that had piqued the interest of various blockchain tracking platforms. On the 17th of October, reports from blockchain analytics entities PeckShield and Lookonchain on X both asserted that Buterin’s wallet, known as “vitalik.eth,” transferred $14.93 million to the Gemini crypto exchange on the 16th of October.

However, a representative from the Ethereum Foundation informed Cointelegraph that the transfer was a mere endorsement from Buterin’s Ethereum Name Service (ENS), confirming a transfer from a charity multisig wallet to fund a grant. Importantly, the funds never physically departed from Buterin’s wallet.

Kanro, a biotech charity backed by Buterin, focuses on addressing COVID-19 and other pandemic-related challenges. Buterin’s crypto transactions have been under the spotlight for the past few months, with wallet transfers totaling over $3.9 million in September.

On the 24th of September, Buterin executed a transfer of 400 ETH—valued at $600,000 at that time—to Coinbase. Notably, Cointelegraph also reported a transaction of 600 ETH ($1 million) from the “vitalik.eth” address on the 21st of August, a transaction that didn’t escape the watchful eyes of on-chain monitoring platforms.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.