Ethereum co-founder Vitalik Buterin sends $1M ETH to Coinbase

Data from Ethereum blockchain scanning website, etherscan, has it that Ethereum co-founder Vitalik Buterin deposited 600 ether (ETH), which is around $1 million worth of the cryptocurrency, to crypto exchange Coinbase on Monday.

On Sunday, Buterin repaid 250,000 RAI and withdrew $1.6 million worth of ether, according to on-chain tracker, lookonchain. RAI is a non-pegged stablecoin backed by ETH.

It is not clear why the Ethereum co-founder transferred the ether to centralized exchange Coinbase.

Ether, the second largest cryptocurrency by market capitalization suffered a 10% decline over the last seven days, amid a broad market downturn which saw traders witness $1 billion in liquidations.

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