The founder of Ethereum (ETH) is selling off a trove of memecoins and turning the profits into donations.
According to blockchain reporter Colin Wu, Vitalik Buterin sold about $340,000 of memecoins in half an hour early on Monday.
“Just In: Vitalik exchanged some Memecoins into his wallet for about 140.6 ETH in 30 minutes, worth about $340k, including: 100,000 USDT (donated by CATE project); 70.71 million Neiro; 11.76 billion MOODENG; 7.8 million DEGEN; 16.03 billion KABOSU.”
According to Wu, Buterin sold 10 billion MOODENGs, a Solana (SOL)-based memecoin referencing a viral baby hippo in a Thailand zoo, and immediately sent most of the profits to charity.
“Vitalik.eth sold 10 billion MOODENGs for 308.7 ETH through Cow Swap at 19:18-19:36 UTC+8 today, and transferred 260.15 ETH to the charity Kanro contract. Currently, vitalik.eth still passively holds 40 billion MOODENGs, worth about 4.32 million US dollars.”
Kanro is a biotech fund set up by Buterin himself last year.
According to Buterin, this is just one of the ways memecoins can be used to raise awareness of positive causes.
“I appreciate all the memecoins that donate portions of their supply directly to charity.
(eg. I saw ebull sent a bunch to various groups last month)
Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease tech), though 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.
I’ve said before that I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens!”
Generated Image: Midjourney