Co-founder Vitalik Buterin recently converted a significant portion of his memecoin holdings into Ethereum (ETH) to support charitable initiatives. In a post on X dated October 7, Buterin disclosed the sale of 10 billion Moodeng tokens. This sale aims to fund technologies that combat airborne diseases.
On-Chain Analysis Confirms Donation Details
On-chain analysis platform Lookonchain verified Buterin’s statement. It revealed that he sold the Moodeng tokens for 308.69 ETH, which equals approximately $762,000. Out of this amount, Buterin donated 260 ETH, valued at around $637,000, to Kanro, a biotech charity platform.
Despite this recent sale, Buterin still holds approximately 40 billion Moodeng tokens. These tokens are worth around $3.66 million. However, this transaction caused a notable decrease in Moodeng’s market value. The token experienced a 21% decline within the past 24 hours. Currently, Moodeng trades at about $0.1077.
Previous Memecoin Sales by Buterin
This transaction follows closely after Buterin’s earlier sale of four different tokens. These included Moodeng, Neiro, Degen, Kabosu, and USDT, totaling 140.67 ETH, valued at around $341,000. After completing this transaction, Buterin contributed 100 ETH, worth approximately $240,000, to the legal defense fund of Tornado Cash developer Roman Storm. This donation marks the third time Buterin has supported Storm’s defense efforts.
Roman Storm expressed heartfelt gratitude in a post on X. He stated, “I can’t describe how much it means to me. Thank you for your long-lasting support.”
Buterin’s Commitment to Charitable Giving
Market analysts have observed that these transactions reflect Buterin’s dedication to transforming memecoin holdings into philanthropic contributions. Earlier this year, he sold a substantial quantity of animal-themed meme coins. He donated ETH worth $532,000 to the Animal Welfare Fund.
Advice for Memecoin Creators
Buterin has encouraged creators of memecoins to donate their tokens directly to charitable organizations. He suggests that they should avoid sending them to him. He proposed forming decentralized autonomous organizations (DAOs) to engage their communities in the donation process. In his post on X, Buterin emphasized, “I truly prefer if you guys send to charity directly. Maybe even make a DAO and get your community directly engaged in the decisions and process.”
He further highlighted that memecoins can have a positive impact on society when directed toward meaningful causes.
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