Co-founder of Ethereum, Vitalik Buterin, has been converting memecoins he receives into Ethereum (ETH) and donating the proceeds to charity.
Recently, he promised to donate to charitable causes, another $1.6M worth of memecoins he converted into ETH.
Spotonchain, a blockchain analytics firm, noted that the latest sale included $982,800 worth of Moo Deng (MOODENG), $231,000 of Monsterra (MSTR), $183,000 of a coin called ETHEREUM IS GOOD (EBULL) plus smaller amounts of other memecoins like Popcat (POPCAT), Fwog (FWOG), and a coin humorously named after himself, Vitalek Buteren (VITALIK).
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According to Spotonchain, Buterin has converted a total of $2.78M worth of memecoins into ETH and has already donated $884,000 to charities over the past nine days.
The Animal Welfare Fund, which is part of the Effective Altruism Funds, received as a donation, all the animal-themed memecoins he had received over the last year, in August. Then, on October 7, he gave 10B meme tokens to support an organization working on anti-airborne-disease technology.
Subsequently, more donations could come, as Buterin’s crypto portfolio still holds $2.4 million in MOODENG tokens, along with smaller amounts of other coins like Neiro (NEIRO), Monsterra (MSTR), and Degen (DEGEN).
While criticizing celebrity-themed memecoins that only seem to benefit celebrities and early investors, Buterin believes and opines that memecoins can be used for good by supporting important public projects or helping people in lower-income countries.
Worthy of note is the fact that Buterin has been mentioned as a candidate for the Nobel Prize in Economic Sciences for 2024 with Economists Tyler Cowen and Alex Tabarrok appraising him for building Ethereum and contributing to its development, especially in revolutionizing it to a more energy-efficient proof-of-stake system.
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