The Ethereum wallet linked to Vitalik Buterin executed a significant transaction today, liquidating various meme coins and Tether’s USDT for ETH.
Blockchain records indicate that throughout the previous year, developers have deposited unsolicited meme tokens into Buterin’s wallet.
What Prompted Buterin to Liquidate Over $300,000 in Meme Coins?
On October 5, Buterin traded four distinct tokens, accumulating 140.67 ETH, valued at roughly $341,000. The blockchain analytics firm Lookonchain reported that Buterin sold 11.76 billion Moodeng tokens for 21 ETH (approximately $51,000) and 70.72 million Neiro for $72,400.
Other tokens he exchanged included 7.8 million Degen for 25 ETH (about $61,000) and 16 billion Kabosu tokens for 22.94 ETH (around $56,000). Furthermore, Buterin converted his complete USDT balance of 101,000 USDT into 41.69 ETH.
Following these transactions, another crypto analytics service, SpotOnChain, reported that Buterin donated 100 ETH (approximately $242,000) to the “Free Alexey & Roman” initiative. This campaign aims to support the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm.
Read more: 7 Trending Meme Coins and Altcoins to Watch in 2024
It remains unclear whether the donated funds originated from his recent token transactions or other sources. Regardless, this action is consistent with Buterin’s established practice of converting meme coin holdings into charitable donations.
Earlier this year, he liquidated a large quantity of animal-themed meme tokens that were sent to him and contributed $532,000 worth of ETH to the Animal Welfare Fund under the Effective Altruism framework.
Notably, one of the tokens recently sold by the Ethereum co-founder requested that he allocate the proceeds to the same cause.
“Hey, Vitalik Buterin — may we ask a favor? We recognize what you did for NEIRO when you sold. Now that you have sold your ITO, could you also donate to the Animal Welfare Fund on behalf of ITO?,” ITO requested on X.
Meanwhile, Buterin has expressed his disapproval of receiving unsolicited tokens publicly. While he values contributing to charitable efforts, he prefers that creators of meme coins direct tokens straight to charities.
Read more: An In-Depth Look at Who Vitalik Buterin Is
Buterin has previously addressed this topic in a blog post, urging the crypto community to create meme coins with practical applications, such as fundraisers, rather than for speculative purposes.
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