Vitalik Buterin sold 28 different memecoins worth approximately $984,000 USDC
He donated all proceeds to his Kanro charity foundation.
The sell-off has caused a mixed reaction from the market.
Ethereum co-founder Vitalik Buterin sold 28 memecoins. He donated all proceeds to the Kanro charity
Vitalik earned about $984,000 from the sale of memecoins. In light of the news, the quotes of some “meme” coins soared, while others collapsed.
Buterin Sells Memcoins for Charity
Vitalik Buterin has sold memecoins for charity several times in recent months. In December, the Ethereum co-founder donated 88 ETH to Khao Kheow Zoo, home to the famous pygmy hippopotamus Moo Deng.
Earlier in October, Buterin also sold more than $2 million worth of “meme” tokens, donating the money to other charities.
This time, Buterin sent all proceeds to the Kanro Foundation, which he founded in 2023. The charity seeks global solutions to fight pandemics.
After COVID-19, the Ethereum founder began to actively support research to prevent infectious diseases. In 2021, Vitalik donated about $1 billion to fight the pandemic in India.
Memcoins in the good
Buterin is pushing the idea of using memecoins for the benefit of society, not just for speculation. The latest sales of “meme” coins confirm Vitalik’s commitment to this cause.
Yesterday, January 6, the Ethereum co-founder sold popular coins such as CULT, DOGE, and SHIB, as well as a number of lesser-known tokens associated with celebrities like Elon Musk.
Some assets have seen a significant increase in value due to Vitalik's liquidations - ESTEE, for example, has jumped by more than 100%. At the same time, other coins have seen a significant decline. DINU has fallen by 68%.
Memecoin creators often send a portion of their token supply to influential figures like Buterin, hoping to publicize their projects. Vitalik occasionally sells the donated coins, often influencing their prices. However, it is clear that the Ethereum co-founder has no specific goal to influence the dynamics of the assets in question.