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According to breaking news, Ethereum founder Vitalik Buterin has sold a large amount of Wrapped Ethereum (WETH), as seen in onchain data.
WETH is a cryptocurrency pegged to the price of $ETH and can be exchanged with $ETH at a 1:1 ratio.
Vitalik Buterin appears to have sent WETH to Cow Protocol and withdrawn PYUSD stablecoin in return. The size of the sales reportedly reached $2.5 million in the last hour. However, Buterin made numerous sales at intervals throughout the day.
Arkham data showing last-minute transfers made by Vitalik Buterin.
*This is not investment advice.