Ethereum co-founder Vitalik Buterin has recently converted $1.6 million worth of meme coins into Ether (ETH), with the intent to donate the proceeds to various charitable organizations.
According to blockchain analytics firm Spot On Chain, the sale included significant amounts of Moo Deng (MOODENG) valued at $982,800, Monsterra (MSTR) at $231,000, and ETHEREUM IS GOOD (EBULL) at $183,000.
Additionally, Buterin liquidated smaller holdings of other meme coins, including Popcat (POPCAT), Fwog (FWOG), and vitalek buteren (VITALIK). This transaction is part of his ongoing efforts to support philanthropic causes.
With this latest sale, Buterin's total meme coin sales have reached approximately $2.78 million, of which he has already donated $884,000 to charitable initiatives over the past nine days. He has been vocal about his appreciation for the issuers of meme coins who have sent him tokens, encouraging them to consider donating directly to charitable causes instead.
On October 7, he announced a donation of 10 billion meme coin tokens to an organization focused on developing technology for combating airborne diseases.
Buterin's philanthropic actions are not limited to this recent donation. In August, he donated a collection of animal-themed meme coins to the Effective Altruism Funds' Animal Welfare Fund. His consistent approach to donating funds generated from meme coins highlights his belief that these assets can contribute positively to society by funding critical projects and aiding underprivileged communities.
Despite the significant sales, Buterin retains a considerable crypto portfolio, which includes approximately $2.4 million in MOODENG tokens, alongside smaller amounts in other meme coins like Neiro (NEIRO), Monsterra (MSTR), and Degen (DEGEN). This suggests that further donations may occur in the future, as he continues to express support for the social utility of meme coins.
Buterin has maintained a critical stance towards celebrity-themed meme coins, which he argues primarily benefit celebrities and early investors. His perspective emphasizes the importance of using cryptocurrencies for broader societal benefits rather than personal gain.