Ethereum's Buterin dumps 10 billion MOODENG tokens and donates $640,000 to his charity fund

Vitalik Buterin appears to have sold 10 billion MOODENG tokens and donated more than $640,000 in cryptocurrency to his biotech charitable fund.

ethereum co-founder Vitalik Buterin sold 10 billion tokens (MOODENG) and donated the proceeds to his biotech fund Kanro, while advocating for memecoins to maximize positive impact through charitable contributions.

According x.com/lookonchain/status/1843266332940492925″ target=”_blank” rel=”nofollow”>string data From blockchain analytics firm Lookonchain, the sale generated 308.69 eth, worth approximately $762,000, of which Buterin donated 260.16 eth (around $642,000) to his Kanro biotech fund.

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After the exchange, Buterin addressed the sale on x and expressed his support for memecoins contributing to charitable causes. He mentioned that all tokens sent to him are donated to charities, including MOODENG tokens, which he allocated to airborne disease technology.

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“I've said before that I think the best thing for memecoins is if they can have the maximum positive sum for the world, so it's great to see moments where that actually happens!”

Vitalik Buterin

MOODENG accumulates 20% after the sale of Buterin

Despite Buterin's clarification, the sale caused concern among cryptocurrency holders, leading to a 20% drop in the price of MOODENG to $0.10.

Kanro, co-founded by Buterin, directs resources to pandemic solutions, particularly in low-income countries, with a focus on open source or non-IP projects. In November 2023, Kanro gifted $15 million to the PolyBio Research Foundation to focus research and clinical trials on SARS-CoV-2.

MOODENG, a memecoin launched on Solana via Pump.fun, was inspired by Moo Deng, a baby pygmy hippopotamus from Thailand. The token has quickly gained traction, amassing over 18,000 holders and surpassing a market capitalization of $100 million, with $145 million in 24-hour trading volume.