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CDS Crypto News Vitalik Buterin’s Memecoin Sales: A Closer Look at His Philanthropic Efforts

Crypto News

Vitalik Buterin’s Memecoin Sales: A Closer Look at His Philanthropic Efforts

Ecem EFE14/10/20242 Mins read60

Vitalik Buterin's Memecoin Sales: A Closer Look at His Philanthropic Efforts

Ethereum Co-Creator Vitalik Buterin Converts $1.6 Million in Memecoins to Ether for Charity

Vitalik Buterin’s Memecoin Sales – Ethereum co-creator Vitalik Buterin has recently converted an impressive $1.6 million worth of memecoins into Ether (ETH), which he has pledged to donate to various charitable organizations. This transaction marks another step in Buterin’s ongoing efforts to leverage cryptocurrency for philanthropic purposes.

Table of Contents

Breakdown of Memecoin Conversions

According to blockchain analytics firm Spot On Chain, the recent sale included:

$982,800 worth of Moo Deng (MOODENG)
$231,000 in Monsterra (MSTR)
$183,000 in ETHEREUM IS GOOD (EBULL)

Additionally, Buterin offloaded holdings of other memecoins such as Popcat (POPCAT), Fwog (FWOG), and vitalek buteren (VITALIK). Over the past nine days, he has converted a total of $2.78 million in memecoins to Ether, with $884,000 already donated to charitable causes.

Previous Donations and Future Commitments

On October 7, Buterin announced via an X post that he would be donating all 10 billion memecoin tokens he received to an organization focused on developing anti-airborne-disease technology. Earlier, on August 15, he donated all animal-themed memecoins received in the past year to the Effective Altruism Funds’ Animal Welfare Fund.

Continued Philanthropic Efforts

Spot On Chain reported that Buterin’s crypto portfolio, valued at approximately $700 million, still contains:

$2.4 million in MOODENG tokens
$144,000 in Neiro (NEIRO)
$117,000 in MSTR
$80,000 in Degen (DEGEN)

With these substantial holdings, more donations from Buterin may be on the horizon, furthering his commitment to social impact through cryptocurrency.

Memecoins: A Double-Edged Sword

Buterin has long championed the idea that memecoins can play a positive role in society by funding important public projects and providing income opportunities for people in lower-income countries. However, he has been critical of celebrity-themed memecoins, which often serve to enrich celebrities and early investors at the expense of the broader community.

Nobel Prize Speculations

Recently, Buterin’s contributions to the crypto space have led to discussions about his potential candidacy for the 2024 Nobel Prize in Economic Sciences. Economists Tyler Cowen and Alex Tabarrok suggested that Buterin’s work, including his role in developing Ethereum and his shift to proof-of-stake, makes him a worthy candidate.

Cowen remarked, “Vitalik built a platform, created a currency, and, in the process, refuted Mises’ regression theorem while obviously following in the footsteps of Satoshi. What does someone have to do to get a Nobel Prize?” Tabarrok echoed this sentiment, noting Buterin’s continuous contributions to Ethereum’s mechanism design.