Vitalik Buterin sold Meme coins just for charity? You may think too simply!
Ethereum co-founder Vitalik Buterin has been very active recently. He sold a large number of Meme coins, with a total value of $1.62 million. It is said that the money will be donated to charity, which is also a way for him to fulfill his charitable commitment.
It is reported that Buterin sold quite a few types of Meme coins, such as 10 billion MOODENG, worth $982,000; 200,000 MSTR, worth $231,000; and 500 million EBULL, worth $183,000. Others include POPCAT, FWOG, Milo, TCATI and VITALIK.
In the past nine days, Buterin has accumulated 1,101 ETH (about $2.78 million) through this wave of operations and donated 360.16 ETH (about $884,000) to charity. He also praised meme coins on X that donate part of their token supply directly to charity, such as EBULL, which contributed to various charities last month.
However, not everyone is buying Buterin's series of actions. A netizen named "Crypto Rug Muncher", who specializes in exposing cryptocurrency scams, expressed concerns about Buterin's actions, especially the EBULL token. He believes that although Buterin has increased EBULL's popularity, the token still has supply control issues.
The netizen also pointed out that 55 new wallets hold more than 40% of EBULL's supply. Therefore, he accused the project's charitable donations of being funded by selling tokens to uninformed buyers and called on everyone not to support the project.
Although meme coins have become popular again this year, industry leaders are increasingly worried. Among them, Chris Dixon, a partner at Andreessen Horowitz (a16z), said that while these meme tokens are easy to create and trade, projects with real long-term potential are struggling with regulatory barriers.
Digital asset management company CoinShares also warned at the beginning of the year that Meme coins face major risks, such as market manipulation and liquidity issues, which are a serious threat to stability and the entire crypto market.
💬 What do you think of Buterin's operation of Meme coins? Is the charitable act carried out in the name of cryptocurrency worthy of everyone's recognition?
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