Ethereum co-founder Vitalik Buterin lately transformed a good portion of his memecoin holdings to ETH for charitable donations.
In an Oct. 7 submit on X, Buterin revealed that he offered 10 billion Moodeng tokens to fund anti-airborne-disease applied sciences.
On-chain evaluation platform Lookonchain confirmed the assertion, noting that Buterin offered the Moddeng tokens for 308.69 ETH (round $762,000) and donated 260 ETH (roughly $637,000) to Kanro, a biotech charity platform.
Regardless of the sale, Buterin nonetheless holds about 40 billion Moodeng tokens, valued at round $3.66 million. His motion, nonetheless, led to a decline in Moodeng’s worth, with the token dropping by 21% prior to now 24 hours. On the time of writing, the token trades at roughly $0.1077.
Buterin’s earlier memecoin gross sales
This transaction comes lower than two days after Buterin offered 4 tokens—Moodeng, Neiro, Degen, Kabosu, and USDT—for 140.67 ETH, price round $341,000.
Following the transaction, Buterin donated 100 ETH, valued at roughly $240,000, to Twister Money developer Roman Storm’s authorized protection fund. This marks the third time Buterin has supported Storm’s protection.
In an X submit, Storm expressed his gratitude for Buterin’s continued help, stating:
“I can’t describe how much it means to me. Thank you for your long-lasting support.”
Market observers famous that these transactions mirror Buterin’s dedication to changing memecoin holdings into charitable donations. Earlier this 12 months, he offered a considerable amount of animal-themed meme cash and donated $532,000 price of ETH to the Animal Welfare Fund.
Buterin advises memecoin creators
Buterin has additionally expressed his desire for memecoin creators to donate tokens on to charitable causes somewhat than sending them to him unsolicitedly.
He instructed that these creators take into account forming decentralized autonomous organizations (DAOs) to contain their communities within the donation course of. In his X submit, Buterin said:
“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 additional emphasised that memecoins might positively influence the world when used for good causes.
