Co-founder of Ethereum Vitalik Buterin is well-known for his charitable nature. He often sells a large number of cryptocurrencies to raise money for charitable causes. The cryptocurrency billionaire raised an incredible $1.62 million in his most recent endeavor, which he donated to charities, by selling eight prominent memecoins.
This comes just a week after he donated $762,000 by selling 10 billion Moodeng memecoins. Buterin stated at the time that the revenues were used to develop technologies to combat airborne diseases. The on-chain tracking platform Lookonchain confirmed the update, stating that Buterin transferred 260.16 ETH, worth $642K, to the Kanro charity.
Vitalik Buterin Donates $1.62 Million
The precise memecoins that Buterin sold, their respective amounts, and the funds raised from each were all disclosed by Spot on Chain, a known cryptocurrency transaction tracker. Buterin sold 10 billion Moodeng (worth $982k), 200k MSTR (worth $231,000), 500 million EBULL coins (worth about $183,000), and 15 million Popcat coins (about $67.2k), according to the data provided.
Moreover, 20 billion Milo coins ($51.4k), 500.1k TCATI ($31.8k), 201.9 million VITALIK ($13.6k), and 31.4 trillion FWOG ($55.9k) were also sold. The aforementioned tokens were all exchanged for ETH and given to various charitable organizations.
Notably, he has raised 1,101 ETH (worth $2.8 million) from the sale of memecoins in the last nine days, and he has sent 360.16 ETH (worth $884K) to charities.
Buterin Commends Memecoin Donors
Meanwhile, Vitalik Buterin expressed his gratitude to those memecoin issuers who sent him their tokens for contribution in a recent post. He applauded initiatives like EBULL, which last month sent a sizeable sum to several organizations.
Furthermore, Buterin emphasized that every fund sent to him is given to charitable organizations. He expressed gratitude to Moodeng and said that the 10 billion coins he had received would be used to develop technology to prevent airborne diseases. But instead of passing through him, he suggested that these coins be sent straight to charitable organizations.
Furthermore, he recommended that projects establish a decentralized autonomous organization (DAO) in which community members will actively participate in the donation decision-making.
Even with the most recent contributions, Buterin’s giveaway portfolio still contains an astounding number of cryptocurrencies. The cryptocurrency figure possesses an enticing $700 million worth of memecoins, according to statistics from Spot on Chain.
Among his holdings are $80,000 in Degen (DEGEN), $117,000 in MSTR, $2.4 million in MOODENG tokens, and $144,000 in Neiro (NEIRO).
Conclusion
Vitalik Buterin’s latest philanthropic endeavor, where he raised $1.62 million by selling various memecoins, underscores his ongoing commitment to using cryptocurrency for charitable purposes. His actions not only highlight the utility of digital assets beyond mere speculation but also reflect the growing intersection of blockchain and philanthropy.
Buterin’s transparency in disclosing the memecoins sold and the funds directed to charities further builds trust in his charitable activities. His suggestion for memecoin projects to establish decentralized autonomous organizations (DAOs) for donations adds an innovative approach, empowering communities to take part in decision-making for charitable causes.
Overall, Buterin’s continuous contributions demonstrate the positive potential of crypto in addressing real-world problems, such as airborne diseases, while encouraging more structured and community-driven philanthropy.
Reece Conner
Reece Conner is a leading expert in the cryptocurrency industry, known for delivering cutting-edge insights and practical guidance to both newcomers and seasoned investors. With a background in finance and technology, Conner bridges the gap between complex blockchain concepts and real-world applications.