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During the pre-mine period, the 61,216 Ether was worth roughly $20 million, but eight years later, its worth more than $116 million. 1446 Total views 20 Total shares Listen to article 0:00 News Join us on social networksA wallet address containing pre-mined Ethereum worth $116 million moved its entire stash of 61,216 Ether (ETH) to an address on the Kraken crypto exchange after being dormant for eight years.

In June 2014, the Ethereum ecosystem conducted a sale event, allowing early team members and co-founders to participate and accumulate pre-mined Ether when the network could not generate tokens on its own.

During the pre-mine period, Ether traded at $300$400, placing the wallets worth at roughly $20 million. However, eight years later, the tokens are worth more than $116 million at the time of writing.

A dormant pre-mine address containing 61,216 #ETH (116,396,127 USD) has just been activated after 8.0 years!https://t.co/f79T0fYa7b Whale Alert (@whale_alert) July 18, 2023

Etherscan data confirms that the pre-mined 61,216 ETH were transferred to a Kraken wallet address on July 18 at 7:30 pm Eastern Time. Sending $116 million in Ether required a minuscule transaction fee of $1.5 and 25.475673161 gwei in gas price, as shown in the below screenshot.Transaction details in relation to the transfer of 61,216 ETH. Source: Etherscan

While the identity of the wallet owner remains unknown, it showcases the importance of hodling an investment strategy that prioritizes the long-term accumulation of crypto tokens. Two transactions related to the pre-mined Ether transfer. Source: Etherscan

The screenshot above shows that the owner of the 61,216 ETH took a cautious approach to ensure no loss of funds due to human error. Before commencing the whale transaction by sending a test transaction with 0.05 ETH to the Kraken address.

Related: Ether whale population drops after Shapella Will ETH price sink too?

On July 18, at the Ethereum Community Conference event in Paris, Ethereum co-founder Vitalik Buterin shared some challenges in implementing a new feature on the blockchain.Vitalik Buterin on the stage of the EthCC event held in Paris. Source: Cointelegraph

According to Buterin, account abstraction extensions, generally called paymasters, can allow users to pay their fees with whatever coins that they are transferring.

Along with the potential benefits of account abstraction for users, Buterin also recognized that developers still need to overcome challenges, such as requiring an Ethereum Improvement Proposal to upgrade current Ethereum externally-owned accounts normal user accounts into smart contracts and ensuring the protocol works similarly in layer-2 solutions.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: Account abstraction supercharges Ethereum wallets: Dummies guide # Kraken # Altcoin # Mining # Ethereum # Whale

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Former Bank of England governor Mark Carney named prime minister of Canada – succeeding Justin Trudeau

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Former Bank of England governor Mark Carney named prime minister of Canada - succeeding Justin Trudeau

Former Bank of England governor Mark Carney has been named Canadian prime minister after winning the Liberal Party leadership race in a landslide victory.

Mr Carney, who also used to be the head of Canada’s central bank, emerged as the frontrunner in the contest as the country deals with the impact of tariffs imposed by US President Donald Trump.

He ended up winning 85.9% of the vote.

During his victory speech, he told the crowd: “Donald Trump, as we know, has put unjustified tariffs on what we build, on what we sell and how we make a living.

“He’s attacking Canadian families, workers and businesses and we cannot let him succeed and we won’t.”

Mr Carney said Canada would keep retaliatory tariffs in place until “the Americans show us respect”.

Mr Trump’s tariffs against Canada and his talk of making the country America’s 51st state have infuriated Canadians.

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The American national anthem has been repeatedly booed at NHL and NBA games.

“Think about it. If they succeeded, they would destroy our way of life… America is a melting pot. Canada is a mosaic,” Mr Carney added.

“America is not Canada. Canada will never ever be part of America in any way, shape or form.”

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‘You can’t take our country or our game’

The 59-year-old will replace Justin Trudeau, who has served as prime minister since 2015.

Mr Trudeau announced he was stepping down in January after facing calls to quit from a chorus of his own MPs.

The 53-year-old’s popularity had declined as food and house prices rose.

Mr Carney will now have to decide when to call a general election in Canada – which must take place on or before 20 October.

In 2013, he became the first non-UK citizen to run the Bank of England since it was founded in 1694.

His appointment was popular in Britain after Canada recovered from the 2008 financial crisis faster than many other countries.

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During leadership debates, Mr Carney argued he was the only person prepared to handle Trump.

“I know how to manage crises,” he said.

“In a situation like this, you need experience in terms of crisis management, you need negotiating skills.”

The surge in Canadian nationalism has bolstered the Liberal Party’s chances in a parliamentary election.

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Donald Trump says Ukraine ‘may not survive’ war against Russia even if US support continues

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Donald Trump says Ukraine 'may not survive' war against Russia even if US support continues

US President Donald Trump has suggested Ukraine “may not survive” the war against Russia even if American support continued.

In an interview with Fox News channel’s ‘Sunday Morning Futures’, Mr Trump was asked about his controversial decision to pause support for Kyiv as it fends off Russia’s full-scale invasion.

Mr Trump, who had a disastrous meeting with Mr Zelenskyy at the White House last week, was asked about a warning from Polish President Andrzej Duda “that without American support, Ukraine will not survive”.

Asked if he was “comfortable” with that outcome, the US president said: “Well, it may not survive anyway.

“But we have some weaknesses with Russia. You know, it takes two,” Mr Trump added.

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Donald Trump. File Pic: Reuters

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It comes as Mr Zelenskyy will visit Saudi Arabia for a Monday meeting with Crown Prince Mohammed bin Salman, while Ukrainian diplomatic and military representatives will meet with a US delegation on Tuesday.

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Mr Trump’s latest remarks come amid global concern over the souring relationship between Ukraine and the US, which alongside the EU has been Kyiv’s main backer in its defence against Russia’s three-year land, air and sea invasion.

The US paused military aid and the sharing of intelligence with Ukraine this month after a meeting between Mr Trump and Mr Zelenskyy on 28 February descended into acrimony in front of the world’s media.

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Mr Trump ordered the pause as he attempts to put pressure on Mr Zelenskyy to negotiate a ceasefire deal with Russia.

Mr Trump has privately made it clear to aides that a signed minerals deal between Washington and Kyiv will not be enough to restart aid and intelligence sharing with Ukraine, Sky News’ US partner network NBC reported earlier on Sunday.

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The 78-year-old president is said to want the deal signed, but also wants to see a change in Mr Zelenskyy’s attitude towards peace talks.

Officials have told NBC News that Mr Trump also wants Mr Zelenskyy to make some movement towards holding elections in Ukraine and possibly stepping down as his country’s leader.

Mr Zelenskyy said in a recent interview he would be ready to step down as Ukraine’s president if it meant his country would become a NATO member and find peace.

That came after he was branded a “dictator” by Mr Trump as Ukraine had not held fresh elections – despite laws prohibiting it during wartime.

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Donald Trump says Ukraine ‘may not survive’ war against Russia even if US support continues

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Donald Trump says Ukraine 'may not survive' war against Russia even if US support continues

US President Donald Trump has suggested Ukraine “may not survive” the war against Russia even if American support continued.

In an interview with Fox News channel’s ‘Sunday Morning Futures’, Mr Trump was asked about his controversial decision to pause support for Kyiv as it fends off Russia’s full-scale invasion.

Mr Trump, who had a disastrous meeting with Mr Zelenskyy at the White House last week, was asked about a warning from Polish President Andrzej Duda “that without American support, Ukraine will not survive”.

Asked if he was “comfortable” with that outcome, the US president said: “Well, it may not survive anyway.

“But we have some weaknesses with Russia. You know, it takes two,” Mr Trump added.

Pic: Reuters
Image:
Donald Trump. File Pic: Reuters

Follow the latest updates on Donald Trump

It comes as Mr Zelenskyy will visit Saudi Arabia for a Monday meeting with Crown Prince Mohammed bin Salman, while Ukrainian diplomatic and military representatives will meet with a US delegation on Tuesday.

More on Donald Trump

Mr Trump’s latest remarks come amid global concern over the souring relationship between Ukraine and the US, which alongside the EU has been Kyiv’s main backer in its defence against Russia’s three-year land, air and sea invasion.

The US paused military aid and the sharing of intelligence with Ukraine this month after a meeting between Mr Trump and Mr Zelenskyy on 28 February descended into acrimony in front of the world’s media.

👉 Follow Trump 100 on your podcast app 👈

Mr Trump ordered the pause as he attempts to put pressure on Mr Zelenskyy to negotiate a ceasefire deal with Russia.

Mr Trump has privately made it clear to aides that a signed minerals deal between Washington and Kyiv will not be enough to restart aid and intelligence sharing with Ukraine, Sky News’ US partner network NBC reported earlier on Sunday.

Please use Chrome browser for a more accessible video player

How are Americans feeling after nearly 50 days of Trump?

Read more:
Rating Donald Trump’s second term so far

‘Trump bump’ turns to a Trump slump

The 78-year-old president is said to want the deal signed, but also wants to see a change in Mr Zelenskyy’s attitude towards peace talks.

Officials have told NBC News that Mr Trump also wants Mr Zelenskyy to make some movement towards holding elections in Ukraine and possibly stepping down as his country’s leader.

Mr Zelenskyy said in a recent interview he would be ready to step down as Ukraine’s president if it meant his country would become a NATO member and find peace.

That came after he was branded a “dictator” by Mr Trump as Ukraine had not held fresh elections – despite laws prohibiting it during wartime.

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