Ethereum co-creator Vitalik Buterin has converted another $1.6 million worth of memecoins into Ether, a portion of which he previously pledged to donate to various charitable organizations. This recent sale highlights his ongoing commitment to philanthropy and his belief in the positive potential of memecoins on society.
The recent transaction included significant amounts of various memecoins, as reported by blockchain analytics firm Spot On Chain in an October 13 post on X:
- Moo Deng (MOODENG): $982,800
- Monsterra (MSTR): $231,000
- ETHEREUM IS GOOD (EBULL): $183,000
- Other holdings included Popcat (POPCAT), Fwog (FWOG), and vitalek buteren (VITALIK).
Over the past nine days, Buterin has successfully converted a total of $2.78 million worth of memecoins into Ether and has donated approximately $884,000 to various charities during this time, according to Spot On Chain’s data.
Encouraging Direct Donations
Buterin has expressed appreciation for the memecoin issuers who have sent him tokens for charitable purposes but also encouraged these issuers to consider making direct donations instead. This perspective aligns with his broader vision of maximizing the positive societal impact of cryptocurrency.
On October 7, he announced on X that he was donating all 10 billion memecoin tokens he received to an organization focused on developing technology to combat airborne diseases. This initiative reflects his commitment to addressing significant global health challenges.
Earlier, on August 15, Buterin donated all the animal-themed memecoins he received over the past year to the Effective Altruism Funds’ Animal Welfare Fund. His consistent philanthropic efforts illustrate a desire to leverage resources generated through memecoins for the greater good.
More donations from Buterin may be forthcoming, as his substantial crypto portfolio still includes significant holdings:
| Token | Value |
|---|---|
| MOODENG | $2.4 million |
| Neiro (NEIRO) | $144,000 |
| MSTR | $117,000 |
| Degen (DEGEN) | $80,000 |
According to Spot On Chain’s data, Buterin maintains a $700 million crypto portfolio, positioning him to make additional impactful contributions.
The Potential of Memecoins
Buterin has long advocated that memecoins can positively contribute to society by funding critical public projects and providing income opportunities for individuals in lower-income countries. While he supports many memecoins, he has been critical of celebrity-themed tokens, which he believes primarily benefit the celebrities and early investors rather than the broader community.
Nobel Prize Nomination Buzz
Recently, discussions have surfaced about Buterin potentially being nominated for the Nobel Prize in Economic Sciences for 2024. Economists Tyler Cowen and Alex Tabarrok have voiced their support for this nomination. During an episode of their Marginal Revolution podcast on October 8, Cowen remarked:
“Vitalik built a platform, created a currency, you could say, refuted Mises’ regression theorem in the process, obviously following in the footsteps of Satoshi, but my goodness, what does someone have to do to get a Nobel Prize?”
Tabarrok echoed this sentiment, stating:
“Not only that, but Vitalik has continued to contribute toward the mechanism design of Ethereum by going to proof-of-stake.”
Vitalik Buterin’s recent actions further solidify his role not just as a pioneering figure in the cryptocurrency space but also as a philanthropist committed to leveraging digital assets for social good. Through his ongoing sales and donations of memecoins, he exemplifies how the cryptocurrency community can engage in impactful philanthropy while navigating the often volatile memecoin landscape.
As discussions around cryptocurrency continue to evolve, Buterin’s contributions and insights will likely shape the industry, highlighting both the opportunities and responsibilities that come with innovation.
Featured image credit: krakenimages via Freepik
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