Ethereum Co-Founder Deposits $37 Million Worth of ETH to Kraken Exchange

IconCryptoNewsTerminal Staff23 May, 2024

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Ethereum Co-Founder Deposits $37 Million Worth of ETH to Kraken Exchange

SpotOnchain, a blockchain analytics firm, reported via Twitter that Ethereum co-founder Joseph Lubin transferred 10,000 ETH, worth around $37.38 million, to the Kraken cryptocurrency exchange. The transaction was made on January 30, 2023, and was part of a larger movement of funds from Lubin's wallet. The reasons behind the transfer are still unknown, but the move has sparked speculation in the crypto community. Some believe that Lubin may be preparing to sell his ETH, while others suggest that he may be moving his funds to a more secure location. Whatever the reason, the large transfer highlights the continued interest in Ethereum and the growing activity on the Kraken exchange.

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