Recently, Ethereum co-creator Vitalik Buterin dumped $1.6 million in memecoins to Ether and donated them to charity.
Tokens that were part of this latest sale include Moo Deng (MOODENG), which sold for $982,800 among others. It also had coins like Monsterra (MSTR), which sold for $231,000 and Ethereum Is Good (EBULL), which sold for $183,000. This sale was identified by the blockchain analytics firm Spot on the Chain.
Vitalik Buterin has been using memecoins for the last 9 days and earned $2.78 million overall. From the total, around $884,000 has been spent on charity. Buterin applauded memecoin issuers for donating tokens to him, which he could then use for charity.
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However, he insisted that they make direct contributions to charity in the future in a smoother way. The last donation was made on 7th October, when 10 billion tokens were donated to an organization focusing on anti-airborne disease technology, thus using memecoins for charity.
Vitalik Buterin Sells Memecoins to Support Charities
In recent months, the memecoins received by Buterin have been used by him to fund various charitable causes.
In August, he contributed all animal-themed memecoins he had received during the year to the Effective Altruism Funds, specifically the Animal Welfare Fund. Such actions are based on Buterin’s understanding of memecoins as potential means to finance public benefits and enhance social well-being.
Together, the registered users of Buterin’s wallets prove that he has exchanged large tokens for Ether, with further donations planned. His current portfolio information on blockchain shows that he still owns MOODENG worth $ 2,400,000.
Buterin also owns NEIRO worth $144,000, and other smaller digital coins. However, the memecoins that Buterin uses to uplift the world are on par with his paradigm advocacy for public funding.
Buterin Advocates Memecoins for Social Good Contributions
Despite selling many memecoins, more donations may still be up for the taking for Buterin. He still holds millions worth of memecoins such as MOODENG and DEGEN, and there are strong indications that he intends to use the assets for charitable organizations.
In light of the unpredictability of memecoins, Buterin believes that they can be used to produce socially beneficial outcomes.
He has also not hidden his hatred for memecoins tied to celebrities, stating they are only useful to the immensely rich and people who invested early.
Buterin still advocates that cryptocurrencies like memecoins can do more than just generate money for their holders. His actions have prepared the way for other characters in the crypto nation, demonstrating what memecoins can do for charity organizations.
However, his charities have also recognized his contributions to the blockchain world. Notable among them are Tyler Cowen and Alex Tabarrok, who recently suggested his name be used for nomination to the 2024 Nobel Prize in Economic Sciences.
They also pointed out how he led Ethereum’s emergence, how he helped move Ethereum to proof-of-stake, and his contributions to economic theories.
