Voorhees-Linked Wallet Buys $6.67M in Ether, Tops 126K ETH
A wallet tied to Erik Voorhees purchased 2,920 ETH for $6.67 million in USDT at $2,284 per token on May 8, 2026, taking its balance above 126,000 ETH.
A wallet linked to Erik Voorhees bought 2,920 ether for $6.67 million in USDT at $2,284 per token on May 8, 2026, bringing the address’s holdings above 126,000 ETH.
On-chain analysts identified the transaction and said the wallet had previously accumulated 123,184 ETH. Those earlier purchases were valued at about $266 million at the prices paid. At the purchase price on May 8, the wallet’s combined holdings were worth roughly $288 million.
The buyer used the stablecoin USDT rather than fiat for the purchase.
On the same day, a separate large wallet transferred about $20 million worth of ether to the Binance exchange. Both transactions occurred within a 48-hour window.
Ether was trading near $2,284 at the time of the purchase, below its record high of $4,878 reached in November 2021. Market data shows ether has lagged bitcoin’s performance through 2026.
On-chain observers noted the wallet’s repeated use of stablecoins for purchases, with prior buys executed during lower price periods.
Erik Voorhees founded Shapeshift, a non-custodial crypto exchange that in 2021 moved to a decentralized model that removed know-your-customer requirements and shifted governance toward a decentralized autonomous organization.
Neither Erik Voorhees nor Shapeshift provided a comment about the wallet activity by the time of reporting.
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