ethereum co-founder Vitalik Buterin recently converted a significant portion of his memecoin holdings into eth for charitable donations.
In an October 7 post on x, Buterin x.com/VitalikButerin/status/1843260976206082216″>revealed which sold 10 billion Moodeng tokens to fund technologies against airborne diseases.
Lookonchain On-Chain Analytics Platform x.com/lookonchain/status/1843266332940492925″>confirmed the statement, noting that Buterin sold the Moddeng tokens for 308.69 eth (around $762,000) and donated 260 eth (around $637,000) to Kanro, a biotech charity platform.
Despite the sale, Buterin still owns around 40 billion Moodeng tokens, valued at around $3.66 million. However, his action caused a drop in Moodeng's value, with the token falling 21% in the last 24 hours. At the time of writing, the token is trading at approximately $0.1077.
Buterin's previous memecoin sales
This transaction comes less than two days after Buterin sold four tokens (Moodeng, Neiro, Degen, Kabosu and USDT) for 140.67 eth, worth around $341,000.
Following the transaction, Buterin donated 100 eth, valued at approximately $240,000, to Tornado Cash developer Roman Storm's legal defense fund. This is the third time Buterin has supported the Storm defense.
in an x x.com/rstormsf/status/1842600977830219940″>mailStorm expressed gratitude for Buterin's continued support, stating:
“I can't describe how much it means to me. Thank you for your long-lasting support.”
Market observers noted that these transactions reflect Buterin's commitment to converting memecoin holdings into charitable donations. Earlier this year, he sold a large number of animal-themed meme coins and donated eth worth $532,000 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 unsolicited.
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 really prefer them to send directly to charities, maybe even create a DAO and have their community directly involved in the decisions and process.”
Buterin further emphasized that memecoins could positively impact the world when used for good causes.
