Ethereum co-founder Vitalik Buterin just lately transformed a good portion of his memecoin holdings to ETH for charitable donations.
In an October 7 put up on X, Buterin revealed that he bought 10 billion Moodeng tokens to fund applied sciences to combat airborne illnesses.
On-chain analytics platform Lookonchain confirmed the assertion, noting that Buterin bought the Moddeng tokens for 308.69 ETH (roughly $762,000) and donated 260 ETH (roughly $637,000) to Kanro, a platform biotechnology charity.
Regardless of the sale, Buterin nonetheless holds round 40 billion Moodeng tokens, valued at round $3.66 million. His motion, nonetheless, led to a decline within the worth of Moodeng, with the token falling 21% within the final 24 hours. On the time of writing, the token is buying and selling at round $0.1077.
Earlier gross sales of Buterin memecoins
This transaction comes lower than two days after Buterin bought 4 tokens – Moodeng, Neiro, Degen, Kabosu and USDT – for 140.67 ETH, price roughly $341,000.
Following the transaction, Buterin donated 100 ETH, price roughly $240,000, to Twister Money developer Roman Storm's authorized protection fund. That is the third time Buterin has supported the Storm protection.
In an X put up, Storm expressed his gratitude for Buterin's continued help, saying:
“I can’t describe how a lot this implies to me. Thanks on your lasting help.
Market observers famous that these transactions mirror Buterin's dedication to changing memecoin holdings into charitable donations. Earlier this yr, he bought a big amount of animal-themed cash and donated ETH price $532,000 to the Animal Welfare Fund.
Buterin advises memecoin creators
Buterin additionally expressed his choice for memecoin creators to donate tokens on to charitable causes relatively than sending them unsolicited.
He urged that these creators contemplate forming decentralized autonomous organizations (DAOs) to contain their communities within the giving course of. In his X put up, Buterin mentioned:
“I actually want that you just ship on to charities, possibly even create a DAO and have your group straight concerned within the choices and the method.”
Buterin additional identified that memecoins might have a constructive impression the world when used for good causes.
