Ethereum co-founder Vitalik Buterin cashes out meme coins and makes a major donation of ETH for crypto advocacy.
On November 27, Ethereum co-founder Vitalik Buterin converted meme coins he received into 22.89 ETH, valued at about $76,500. He then donated 320 ETH, roughly $1.07 million, to Coin Center, a leading organization focused on cryptocurrency policy advocacy.
Buterin’s actions reflect his meme token perspective and ongoing commitment to supporting crypto education and policy development.
His donation reinforces his support for initiatives that push for clearer regulatory frameworks in the blockchain space.
Vitalik Buterin Converts Meme Coins to ETH
Blockchain data tracker Lookonchain revealed that Buterin sold several meme coins that were sent to his wallet, exchanging them for 22.89 ETH.
According to Arkham Intelligence, Buterin received these coins for free. Buterin, similar to Binance CEO Changpeng Zhao, has discouraged the sending of meme tokens to his wallet, instead urging that such funds be donated directly to meaningful causes.
After the sale of these tokens, Buterin made a substantial donation of 320 ETH (around $1.07 million) to Coin Center, underscoring his commitment to supporting ethical efforts in the blockchain industry.
The donation aligns with his focus on promoting regulatory clarity and responsible policy development within the crypto sector.
Coin Center and Its Mission
Coin Center, based in Washington D.C., advocates for cryptocurrency policies that protect individuals’ rights to create, use, and manage open blockchain networks like Bitcoin and Ethereum.
The non-profit group works to produce policy research, educate policymakers, and promote balanced legislation while also defending civil liberties through litigation.
Buterin’s donation will likely help strengthen Coin Center’s efforts to defend decentralized technologies and encourage further innovation.
Ethereum Price Context
As of the latest data, Ethereum (ETH) is trading at $3,426, with a slight dip over the past 24 hours. Its price has fluctuated between $3,255 and $3,443.
Ethereum has a market cap of $408 billion and a daily trading volume of $40 billion, maintaining a market dominance of 12.8%, securing its position as the second-largest cryptocurrency by market cap.
Additionally, the NYSE Arca has filed a 19b-4 proposal for Bitwise’s Ethereum Exchange Traded Product (ETP), signaling growing institutional interest in Ethereum-based financial products.
Recently, Buterin also purchased ANON tokens from Anoncast to post anonymously on his Farcaster account, further emphasizing his active participation in the evolving crypto landscape.
