Ethereum co-founder Jeffrey Wilcke sends 105,737 ETH to Kraken.
The transfer is valued at approximately $262 million.
Wilcke now holds only 265 ETH in his wallet.
A Major Ethereum Move: $262M Sent to Kraken
In a move that’s shaken the crypto community, Jeffrey Wilcke, one of the co-founders of Ethereum, has deposited 105,737 ETH to the cryptocurrency exchange Kraken. Valued at around $262 million at the time of the transaction, this is one of the largest ETH transfers seen recently.
According to blockchain data tracked by Spot On Chain, Wilcke now retains just 265.4 ETH (roughly $659,000) in his wallet. The size and timing of this transaction have sparked speculation about his intentions—whether this signals a potential sell-off, a diversification strategy, or a simple custody shift.
Who Is Jeffrey Wilcke and Why This Matters
Jeffrey Wilcke is a lesser-known name among Ethereum’s original founding team, but his role was crucial in building the Ethereum Go client, which laid the groundwork for the platform’s early development.
His massive deposit to Kraken has caused a stir partly because major wallet movements by early Ethereum figures often trigger market concerns. These actions can impact price sentiment, especially when the broader market is already in a volatile state.
[BREAKING] Jeffrey Wilcke, co-founder of #Ethereum, just deposited 105,737 $ETH ($262M) to #Kraken!
He only holds 265.4 $ETH ($659K) left.
Follow @spotonchain and check out his addresses at https://t.co/O8uU8oNonO https://t.co/5TZBwWfMQD pic.twitter.com/FVKzpM74c7
— Spot On Chain (@spotonchain) May 20, 2025
Community Reaction and What’s Next
Crypto traders and enthusiasts are keeping a close eye on the aftermath of this move. While Wilcke hasn’t commented publicly, the fact that his remaining ETH holdings have drastically reduced suggests a major portfolio change.
Some believe he could be preparing for a large fiat conversion or diversifying into other assets. Others think it might just be a security-driven custody move. Regardless, large movements by Ethereum insiders always capture attention—and this one is no exception.
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