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Ethereum Creator Vitalik Buterin Abruptly Sends 500 ETH To DeFi Protocol

According to the latest repots, the Ethereum creator Vitalik Buterin sent 500 ETH to DeFi protocol. Check out the latest reports about this below.

Ethereum creator sends crypto to little DeFi protocol

According to the latest reports, it seems that Ethereum (ETH) founder Vitalik Buterin is catching the attention of crypto sleuths after moving 500 ETH to an under-the-radar decentralized finance (DeFi) project.

“Blockchain security firm PeckShield first spotted the transaction and revealed that a wallet controlled by Buterin transferred the ETH stack to DeFi protocol Reflexer,” the online publication the Daily Hodl notes.

Reflexer is a platform designed to enable users to mint stablecoins by using their crypto as collateral.

“The protocol issues RAI, a crypto asset backed by Ethereum that aims to maintain a stable value in order to protect holders from the volatility of the markets. According to PeckShield, Buterin used the 500 ETH to accumulate stablecoins.”

We suggest that you check out the complete article in order to learn more details about all this.

Ethereum in the news

Ethereum is not a security, as said by the crypto think tank Coin Center. Check out the latest reports about all this below.

Crypto advocacy group Coin Center spelled out why it believes Ethereum (ETH) is not a security, despite claims to the contrary coming from New York Attorney General (NYAG) Letitia James.

In a new lawsuit against the crypto exchange Kucoin, Attorney General James argues Ethereum is a security that relies on the efforts of third-party devs to generate profits for its holders.

The Attorney General calls ETH “a speculative asset”. He also places the coin in a group with the collapsed crypto project Terra (LUNA) and its algorithmic stablecoin TerraUSD (UST).

Coin Center’s director of communications Neeraj Agrawal refutes the NYAG’s assertions and says the think tank’s view on Ethereum remains unchanged.

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