Vitalik Buterin, the Co-Founder of Ethereum, was recently reported to have sold a number of meme tokens he received from various projects, converting them into 908.77 ETH, which is equivalent to $2.24 million or approximately IDR 35 billion.
According to data from Lookonchain on Sunday (October 13, 2024), Buterin made two significant transactions to sell these meme coins, the first netting 257.1 ETH worth around $636,000, followed by a second transaction worth 651.67 ETH or approximately $1.61 million. Among the various meme tokens sold, Buterin offloaded around 10 billion MOODENG tokens, which brought in 395.96 ETH, 200,000 MSTR valued at 93.23 ETH, 500 million EBULL earning 73.79 ETH, and 15 million POPCAT worth 27.11 ETH. Other meme tokens included in the sale were MILO, FWOG, TCATI, and VITALIK.
Proceeds From Meme Coin Sales for Charity?
The reason behind Buterin’s sale of meme coins remains unclear. However, market observers speculate that the proceeds may be allocated for charity, a cause Buterin frequently supports.
Throughout 2024, the Ethereum co-founder has repeatedly sold meme tokens he received for charitable purposes. According to Etherscan data from October 7, Buterin sold 10 billion MOODENG tokens, totaling $1.8 million at that time.
Following this sale, Buterin stated in an X post that the proceeds from the MOODENG sale were aimed at supporting technology for preventing airborne diseases. In the same post, Buterin expressed his appreciation for meme coin projects committed to donating a portion of their token supply to charity.
“I have said before that the best thing meme coins can do is have a maximum positive impact on the world, so it’s great to see moments when that really happens!” Buterin said.
He further added:
appreciate all the meme coins that contribute portions of their supply directly to charity.
(For example, I noticed last month that EBULL donated a significant amount to various groups.)
Anything sent to me also goes to charity (thanks MOODENG! The 10 billion from today is going towards fighting airborne diseases…)
— vitalik.eth (@VitalikButerin) October 7, 2024
Buterin is one of the most vocal figures in the crypto space advocating for the use of digital assets to support social causes and create a positive impact.
In an X post from August, Buterin revealed that he had donated all the meme coins he received over the past year, worth approximately 200 ETH or around IDR 8.3 billion, to the Animal Welfare Fund from Effective Altruism Funds.
Back in 2021, Buterin also famously sold $1 billion worth of SHIB meme coins, which were gifted to him by the anonymous developers of Shiba Inu, to aid India’s COVID-19 relief efforts.
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