Vitalik Buterin Sells 28 Meme Coins, Donates $984,000 to Charity
Vitalik Buterin, co-founder of Ethereum, has made headlines again after selling 28 different meme coins, reportedly earning $984,000 in USDC, which he donated to his charity organization, Kanro.
The sales included significant amounts of various tokens: 500 trillion $DINU ($13,208), 50.48 billion $ESTEE ($116,306), 92,000 $DOGE ($35,233), 80.47 trillion $JSHIBA ($21,466), and 698,000 $OMIKAMI ($27,895). Other liquidated tokens include $FREE, $DOBE, $PLUTO, and $MONKEYS.
Buterin's Philanthropic Efforts
Buterin's latest donation purpose is undisclosed, but this follows previous philanthropic efforts using proceeds from meme coin sales. In October, he donated $884,000 over ten days from a similar sell-off to support anti-airborne-disease technology. Earlier, he contributed to the Effective Altruism Funds’ Animal Welfare Fund using funds from another sale.
Buterin views meme coins as tools for supporting meaningful causes, believing they can positively impact society by funding public projects and providing income opportunities for individuals in lower-income regions. His actions demonstrate a consistent commitment to transforming unsolicited meme coin deposits into charitable contributions.
Meme Coins Experience Price Drops
Buterin's recent sell-off has affected the prices of several involved tokens, particularly those with small market capitalizations. For example, $DINU dropped by 68%, while $JSHIBA lost 38% of its value. This decline highlights the limited liquidity and pool depth of these meme coins.