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Ethereum co-founder sells $11.5m in crypto to Kraken

By Yana Berman

Jeffrey Wilcke reportedly sold 90,000 ETH to the US cryptocurrency exchange

Ethereum co-founder and core developer Jeffrey Wilcke has reportedly sold more than $11m (£8.4m, €9.8m) to the US cryptocurrency exchange Kraken.

According to TrustNodes, a website that monitors crypto news, the transaction of 90,000 on Christmas Day was made from the 0x600 address. The account was founded by Ethereum dev wallet. Trust Node assumes the funding was a part of the initial distribution of the coin by the funding team.

The account, which TrustNodes associates with Wilcke, initially had 408,000 ETH on it and later started to gradually sell the amount. It still had 218,000 ETH, which is around $27m now, but on Christmas Day the intermediary address received 90,000 from it and then moved the whole to Kraken.

As the information spread across the crypto community, Wilcke wrote in his twitter: "Jesus Christ. Nothing goes unnoticed. Need money for my game, yo."

Wilcke, who is also a co-founder of Grid Games, later deleted the tweet. However, it remained as a screen and was later used in several discussions about the matter. Wilcke later wrote that his largest portion in the basket is still in ETH, and he needs the other part in cash for tax and investing.

TrustNodes believes that with 128,000 ETH remaining on the account Wilcke has completely left the business. In addition to that, he has been completely inactive on Ethereum's GitHub since March 2019.

The investigation comes shortly after Vitalik Buterin, the Canadian IT genius who founded Ethereum, was rumored to be behind several whale moves on Ethereum blockchain. The total amount of ETH transferred on Christmas Day was around $25.5m.

On that day, apart from Kraken, crypto exchange Huobi received 99,987 ETH, while another major exchange Binance got 25,908 ETH, according to Cointelegraph.

Following the news, the price of ETH slightly declined. As of press time, the altcoin was down 0.21 per cent to $125.

FURTHER READING:Ethereum’s Istanbul hard fork goes live in seamless upgrade

FURTHER READING:Ether price prediction for January 2020: the coin could rise next month

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