Ethereum co-founder Buterin swaps memecoins for charity, urges creators to donate directly

Ethereum co-founder Vitalik Buterin precocious converted a important information of his memecoin holdings to ETH for charitable donations.

In an Oct. 7 station connected X, Buterin revealed that helium sold 10 cardinal Moodeng tokens to money anti-airborne-disease technologies.

On-chain investigation level Lookonchain confirmed the statement, noting that Buterin sold the Moddeng tokens for 308.69 ETH (around $762,000) and donated 260 ETH (approximately $637,000) to Kanro, a biotech foundation platform.

Despite the sale, Buterin inactive holds astir 40 cardinal Moodeng tokens, valued astatine astir $3.66 million. His action, however, led to a diminution successful Moodeng’s value, with the token dropping by 21% successful the past 24 hours. At the clip of writing, the token trades astatine astir $0.1077.

Buterin’s erstwhile memecoin sales

This transaction comes little than 2 days aft Buterin sold 4 tokens—Moodeng, Neiro, Degen, Kabosu, and USDT—for 140.67 ETH, worthy astir $341,000.

Following the transaction, Buterin donated 100 ETH, valued astatine astir $240,000, to Tornado Cash developer Roman Storm’s ineligible defence fund. This marks the 3rd clip Buterin has supported Storm’s defense.

In an X post, Storm expressed his gratitude for Buterin’s continued support, stating:

“I can’t picture however overmuch it means to me. Thank you for your long-lasting support.”

Market observers noted that these transactions bespeak Buterin’s committedness to converting memecoin holdings into charitable donations. Earlier this year, helium sold a ample magnitude of animal-themed meme coins and donated $532,000 worthy of ETH to the Animal Welfare Fund.

Buterin advises memecoin creators

Buterin has besides expressed his penchant for memecoin creators to donate tokens straight to charitable causes alternatively than sending them to him unsolicitedly.

He suggested that these creators see forming decentralized autonomous organizations (DAOs) to impact their communities successful the donation process. In his X post, Buterin stated:

“I genuinely similar if you guys nonstop to foundation directly, possibly adjacent marque a DAO and get your assemblage straight engaged successful the decisions and process.”

Buterin further emphasized that memecoins could positively impact the world erstwhile utilized for bully causes.

The station Ethereum co-founder Buterin swaps memecoins for charity, urges creators to donate directly appeared archetypal connected CryptoSlate.