Ethereum co-founder Buterin swaps memecoins for charity, urges creators to donate directly
Ethereum co-founder Vitalik Buterin recently converted a significant portion of his memecoin holdings to ETH for charitable donations.
In an Oct. 7 post on X, Buterin revealed that he sold 10 billion Moodeng tokens to fund anti-airborne-disease technologies.
On-chain analysis platform Lookonchain confirmed the statement, noting that Buterin sold the Moddeng tokens for 308.69 ETH (around $762,000) and donated 260 ETH (approximately $637,000) to Kanro, a biotech charity platform.
Despite the sale, Buterin still holds about 40 billion Moodeng tokens, valued at around $3.66 million. His action, however, led to a decline in Moodengs value, with the token dropping by 21% in the past 24 hours. At the time of writing, the token trades at approximately $0.1077.
Buterins previous memecoin sales
This transaction comes less than two days after Buterin sold four tokensMoodeng, Neiro, Degen, Kabosu, and USDTfor 140.67 ETH, worth around $341,000.
Following the transaction, Buterin donated 100 ETH, valued at roughly $240,000, to Tornado Cash developer Roman Storms legal defense fund. This marks the third time Buterin has supported Storms defense.
In an X post, Storm expressed his gratitude for Buterins continued support, stating:
I cant describe how much it means to me. Thank you for your long-lasting support.
Market observers noted that these transactions reflect Buterins commitment to converting memecoin holdings into charitable donations. Earlier this year, he sold a large amount of animal-themed meme coins and donated $532,000 worth of ETH to the Animal Welfare Fund.
Buterin advises memecoin creators
Buterin has also expressed his preference for memecoin creators to donate tokens directly to charitable causes rather than sending them to him unsolicitedly.
He suggested that these creators consider forming decentralized autonomous organizations (DAOs) to involve their communities in the donation process. In his X post, Buterin stated:
I truly prefer if you guys send to charity directly, maybe even make a DAO and get your community directly engaged in the decisions and process.
Buterin further emphasized that memecoins could positively impact the world when used for good causes.
The post Ethereum co-founder Buterin swaps memecoins for charity, urges creators to donate directly appeared first on CryptoSlate.
Text source: CryptoSlate
