Ethereum's Buterin Reveals Real Reason Behind Recent Transfer

In a recent social media post, Ethereum cofounder Vitalik Buterin clarified the actual purpose of a recent ETH purpose that took place earlier today.

As reported by U.Today, Buterin sent 200 ETH (roughly $532,000) to the Kraken exchange.

Obviously, the transfer was not left unnoticed by the cryptocurrency community, with numerous users speculating about Buterin's actual intentions.

However, the Ethereum cofounder has now clarified that this was a donation to the Animal Welfare Fund. "Charity donation done, covering all animal coins from the past year or so! That said, I appreciate it if coin holdings just get allocated to the charities directly," he said.

The fund focuses on improving the well-being of animals with the help of specific grants that focus on fostering research into animal advocacy, helping neglected groups of animals, among other opportunities. 

Some examples of projects that can receive support from the fund include improving the welfare of farmed fish, promoting alternative proteins and rooting out some cruel practices within the agriculture sector. 

The fund has already recommended several grants, to the tune of several million dollars. It gets financial support via both direct donations and institutional donors. Its biggest institutional donor is Open Philanthropy, a research and grantmaking foundation based in San Francisco, California.

The Canadian programmer is known for his charitable efforts. Last month, Buterin made a hefty $300,000 donation to 2077 Collective, an organization that is focused on promoting Ethereum adoption. Buterin also famously donated a significant chunk of his Shiba Inu (SHIB) holdings to charity.