Ethereum Crypto Whale Makes $116 Million Deposit With Kraken Exchange

in #bolds • last year

Ethereum crypto whale and former CTO at JPMorgan Chase, Joseph Lubin, has deposited $116 million on the Kraken exchange. This is one of the largest deposits in history.

The amount deposited by Lubin is equivalent to approximately 0.1% of all ETH tokens in circulation. The amount he deposited is equivalent to $5.5 million in ETH. However, this deposit will not be immediately available to traders as it must be converted to USD first.

This deposit was made through a new account called NIMBY worth $116 million. The NIMBY source code was published on GitHub by Joseph Lubin on September 4, 2018.

In an interview with Bloomberg on Wednesday, Joseph Lubin said: “I want people to know that I'm not trying to break Bitcoin or Ethereum because they're my friends...I think it's important not to bring down people who want to experiment and try new things...We need more experimentation in finance and technology right now.

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