Crypto: Vitalik Buterin Sells $6.6m In ETH After Flagging Planned Withdrawals

Vitalik Buterin sold almost 3,000 ETH worth $6.6 million through a series of swaps days after saying withdrawals from his holdings were coming.

Ethereum co-founder Vitalik Buterin sold about 2,961 Ether worth $6.6 million over a three-day period, after previously announcing plans to withdraw some of his holdings.

Blockchain tracker Lookonchain said in a Thursday X post that the transactions were executed at an average price of about $2,228 per Ether (ETH). Ethereum’s native cryptocurrency traded at around $2,130 at the time of writing, down by more than 5% over the past day, according to CoinMarketCap.

Arkham Intelligence data shows that the ETH sales were routed through CoW Protocol, with multiple small swaps rather than a single block trade. Such transactions are commonly used to reduce market impact.

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Buterin said he is personally taking on responsibilities that might otherwise fall under special foundation projects, with a focus on building an open, secure and verifiable technology stack spanning software and hardware.

The Ethereum Foundation has previously faced criticism for selling ETH to fund operations, but has since explored alternative strategies, including staking and decentralized finance-based approaches.

The sales come during a period of heightened sensitivity toward large holders. Falling ETH prices have prompted leveraged Ether whales to unload assets to repay loans, adding to the sell pressure.

In an X post on Tuesday, Bitwise chief investment officer Matt Hougan said that the crypto market has been in a “full-blown crypto winter” since January 2025. “Chances are, we’re closer to the end than the beginning,” Hougan said.

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Source: CoinTelegraph