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Vitalik Buterin Unloads $940k in Meme Coins, Donates Proceeds to Charity

HomeVitalik Buterin Unloads $940k in Meme Coins, Donates Proceeds to Charity

Vitalik Buterin Unloads $940k in Meme Coins, Donates Proceeds to Charity

Vitalik Buterin Unloads $940k in Meme Coins, Donates Proceeds to Charity

Ethereum Co-Founder Vitalik Buterin Makes Significant Donations to Charity with Memecoins

Vitalik Buterin, co-founder of Ethereum, has made significant donations to his charitable fund, Kanro, using proceeds from the sale of various memecoins. This move is consistent with Buterin's long-standing philanthropic efforts and commitment to giving back to society.

Buterin sold a total of over $940,000 worth of stablecoin USD Coin (CRYPTO:USDC) by trading notable coins like Neiro (NEIRO), Shiba Inu-inspired ESTEE, Marvin Inu (MARVIN), and several others. According to on-chain tracking platform Spot On Chain, this sale was conducted on Monday.

Out of the total proceeds from the sale, approximately 916,000 USDC was sent to a wallet belonging to Kanro. This charitable fund is dedicated to addressing COVID-19-related challenges and other pandemic-related issues. The transfer of funds to Kanro demonstrates Buterin's commitment to using his wealth and resources for the greater good.

The Notable Sale: Neiro Tokens Plummet by 3%

One of the notable coins sold by Buterin was Neiro, a dog-themed meme coin inspired by the sister of Dogecoin (CRYPTO:DOGE) mascot Kabosu. A staggering 70 million NEIRO tokens worth over $74,000 were offloaded in this transaction.

As a result of this sale, Neiro's price plummeted by over 3% in the last 24 hours. In contrast, ESTEE and MARVIN gained 28.66% and 14.50%, respectively, in the same time period, according to CoinMarketCap data.

Buterin's Philanthropic Efforts: A History of Giving Back

This donation is not an isolated incident but part of Buterin's long history of philanthropy. In December, he adopted a viral baby hippo named Moo Deng, setting aside 88 Ethereum for the animal's welfare and her family. Furthermore, he donated billions of dollars worth of Shiba Inu to COVID-19 relief efforts in India.

Buterin has also frequently discouraged project creators from sending him unsolicited meme tokens, advocating instead that they allocate these holdings directly to charities. This approach reflects his commitment to using his influence for the betterment of society and his dedication to making a positive impact on global issues.

Ethereum Price Remains Steady

At the time of writing, Ethereum was trading at $3,685.58, experiencing a minor increase of 0.55% in the last 24 hours, according to data from Benzinga Pro.

Conclusion: Vitalik Buterin's Charitable Contributions Set an Example

Vitalik Buterin's actions demonstrate his commitment to philanthropy and giving back to society. By donating over $940,000 worth of stablecoins to his charitable fund, Kanro, he is using his wealth and influence for the greater good.

This move serves as a positive example for others in the cryptocurrency community, emphasizing the importance of using one's resources to make a meaningful impact on global issues. As Buterin continues to advocate for philanthropy and encourage project creators to allocate meme tokens directly to charities, his charitable efforts will undoubtedly inspire others to follow suit.