According to the latest report from Lookonchain, Vitalik Buterin, the founder of Ethereum, has drawn attention by selling a large quantity of the memecoin MOODENG. Specifically, Buterin liquidated 10 billion MOODENG tokens via the decentralized exchange CoWSwap, earning 308.69 ETH (equivalent to $762,000).
Buterin liquidated 10 billion MOODENG tokens via the decentralized exchange CoWSwap
What’s notable is that immediately after cashing out, Buterin didn’t keep the proceeds for himself. Instead, he donated 260.16 ETH (approximately $642,000) to the Kanro Charity (Vitalik Charity), a foundation he co-founded.
Lookonchain revealed that this wasn’t the first time Buterin sold MOODENG. On October 5th, he also liquidated 11.76 billion tokens, earning 21.03 ETH (around $50,900).
Despite selling a significant amount, Buterin still holds approximately 40 billion MOODENG tokens, with an estimated value of up to $8 million.
Previously, he also sold 17.1 billion NEIRO tokens, collecting 44.4 ETH. NEIRO is another memecoin that was listed on Binance shortly after. In March, he earned $700,000 from selling memecoins, but the most notable sale remains his “dog coin” liquidation of 50% of the total supply of SHIB in May 2021, which brought him $1.2 billion.
Significantly, after that SHIB sale, Buterin donated more than $1.7 billion to global charities, including the India Covid Relief Fund.
Related: Vitalik Buterin Shares Views on Memecoins
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Vitalik Buterin’s Explanation for Selling Memecoins
Right after liquidating MOODENG, Buterin posted an explanation of his actions:
Vitalik Buterin’s Explanation for Selling Memecoins
I appreciate the growth of memecoins and want to contribute part of the project’s supply to charitable organizations. The 10 billion MOODENG sold today will be directed towards technology to combat airborne infectious diseases.
The Ethereum founder further stated, “Anything sent to me will be donated to charity,” echoing his actions in August when he used the proceeds from selling memecoins to support an animal charity.
However, it’s important to note that the version of MOODENG that Vitalik Buterin sold was a “copy” on Ethereum. Interestingly, the token’s price surged nearly fivefold after the announcement of Buterin’s charity sale.
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