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    Vitalik Buterin sells another $1.6M in memecoins promised for charity

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    portrait, Vitalik Buterin, Vitaly Buterin

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    Ethereum co-founder, Vitalik Buterin, has traded nearly $1.6 million worth of less mainstream “memecoins” for Ethereum (ETH). These memecoins included Moo Deng (MOODENG), Monsterra (MSTR), and ETHEREUM IS GOOD (EBULL) among others. He also converted $2.78 million of meme tokens to Ethereum. In the past nine days, he donated around $884,000 to charities. Despite his recent trades, Buterin still possesses a significant crypto fortune in different memecoins. He encourages the use of memecoins for societal contributions, but criticises celebrity-themed memecoins that only benefit the celebrity and early investors.

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    Ethereum co-founder, Vitalik Buterin, has just traded about $1.6 million of various quirky digital coins known as “memecoins”, into Ethereum (ETH), a more mainstream cryptocurrency. He had previously committed to giving this money to charities.

    The trade included around $982,800 worth of Moo Deng (MOODENG), $231,000 of Monsterra (MSTR), and $183,000 of ETHEREUM IS GOOD (EBULL). Other interesting-sounding cryptocurrencies he traded away include Popcat (POPCAT), Fwog (FWOG), and vitalek buteren (VITALIK).

    According to an Oct. 13 update by blockchain analytics company Spot On Chain, Buterin has now turned about $2.78 million worth of these meme-inspired tokens into Ethereum. He has also donated around $884,000 to charity in the past nine days.

    In response to memecoin creators gifting him tokens, Buterin has appreciated this move but hinted that they might want to consider giving directly to charities instead. Last week, he revealed that he was giving away all 10 billion memecoin tokens he was given to an organization focused on combatting airborne diseases.

    Buterin has a history of giving away memecoins he receives. Back in August, he gave away all of his animal-themed coins that he had accumulated over the past year to Effective Altruism Funds’ Animal Welfare Fund.

    Meanwhile, Buterin still has a sizable crypto fortune which includes around $2.4 million in MOODENG tokens, $144,000 in Neiro (NEIRO), $117,000 in MSTR, and $80,000 in Degen (DEGEN).

    For Buterin, memecoins are not just trendy online assets. He strongly advocates that they can make significant positive societal contributions. This could include funding important public initiatives or providing opportunities for people in low-income countries to earn an income.

    Buterin, however, has criticized celebrity-themed memecoins that tend to only benefit the celebrity and early investors, while leaving everyone else out in the cold.

    In other news, economists Tyler Cowen and Alex Tabarrok have proposed Buterin’s name for a future Nobel Prize in Economic Sciences for his groundbreaking work in creating Ethereum. They’ve praised him for not only building the Ethereum platform but also for continuously improving it.

    Source: Cointelegraph

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