Vitalik Buterin’s affiliated Ethereum wallet conducted a large transaction today, selling various meme coins and Tether USDT to ETH.
Blockchain data reveals that the developer sent these unsolicited meme tokens to Buterin’s wallet throughout the past year.
Why did Buterin leak over $300,000 in meme coins?
On October 5th, Buterin sold four different tokens and earned 140.67 ETH (worth approximately $341,000). Blockchain analysis platform Lookonchain reported that Buterin sold 11.76 billion Muden tokens for 21 ETH (approximately $51,000) and 70.72 million NEURO for $72,400.
Other assets he sold included 7.8 million Degen for 25 ETH (about $61,000) and 16 billion Kavos tokens for 22.94 ETH (about $56,000). Additionally, Buterin converted his entire USDT balance of 101,000 USDT to 41.69 ETH.
After these sales, SpotOnChain, another crypto analysis platform, noted that Buterin sent 100 ETH (approximately $242,000) to the “Free Alexei and Roman” campaign. This effort supports the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm.
Read more: 7 hot meme coins and altcoins that will be trending in 2024
Vitalik Buterin trade. Source: SpotOnChain
It is unclear whether the donated funds came from his recent token sale or from other sources. Nevertheless, this move is consistent with Buterin’s continued practice of converting his memecoin holdings into charitable donations.
Earlier this year, he sold a huge amount of animal meme tokens he had been sent and donated $532,000 worth of ETH to the Animal Welfare Fund under the Effective Altruism Initiative.
Interestingly, one of the tokens recently sold by Ethereum’s co-founders requested that the proceeds be donated to the same cause.
“Hey, Vitalik Buterin, can I ask you something?” We know what you did to NEIRO when you sold. Since I sold ITO, could you please make the same donation to the Animal Welfare Fund on ITO’s behalf?” ITO wrote to X.
Meanwhile, Ethereum’s co-founder has publicly stated that he is opposed to receiving tokens unilaterally. Although he appreciates contributing to charity, he prefers meme coin creators to allocate tokens directly to charities.
Read more: Who is Vitalik Buterin? Learn more about the Ethereum co-founder
Buterin also addressed this issue in a blog post, encouraging the crypto community to design meme coins with practical uses such as charity fundraising, rather than speculative assets.
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