Blockchain technology experts from PeckShield recorded a large transfer of USDC stablecoins worth about $15 million from a crypto wallet associated with Vitalik Buterin to the account of the Gemini exchange.

Transaction from the accounts of one of the crypto wallets of the co-founder of Ethereum happened October 16. According to PeckShield, the initial source of funds may have been Kanro, a charity affiliated with Buterin, which transferred $14.93 million worth of crypto assets to his account.

According to crypto experts at PeckShield, moving large amounts of cryptocurrencies to centralized exchanges like Gemini could mean selling off to cover operating costs, fund grants, or support initiatives within the ecosystem.

According to PeckShield’s observations, this is not the first such large asset transfer that is worthy of attention. At the beginning of the month, the Ethereum Foundation completed the sale of 1,700 ETH on the Uniswap platform, receiving about $3 million. These funds were then transferred to addressmarked as Gnosis Safe Proxy.

Since mid-September, accounts tagged with vitalik.eth have been seen in several transactions related to centralized companies. In total, over the past month to Kraken exchanges, Coinbase
and Bitstamp sent about 2,400 ETH, and another 500 ETH to the Paxos account.

Earlier, Ethereum co-founder Vitalik Buterin criticized central bank digital currencies (CBDCs), calling them “interfaces for existing banking systems.”