Vitalik Buterin encourages the community to donate memecoin token funds directly to charities.
Ethereum co-founder Vitalik Buterin recently disclosed that he donated all the animal-themed memecoins he received last year to a charity dedicated to animal welfare.
On August 15, Buterin announced on X that he had completed the process of donating these animal coins to charity.
He shared a receipt confirming the donation to the Effective Altruism Funds’ Animal Welfare Fund.
The receipt reveals that on August 14, Buterin transferred 200 Ether, valued at $532,398, to the charity.
He also encouraged the memecoin community to send any crypto intended for him directly to charities.
Additionally, Buterin suggested that starting in 2024, the community should engage in more “sophisticated public goods funding,” referencing his previous blog post on memecoins.
Memecoin Dumps After Vitalik Buterin Sells Holdings
A unique chain of events prompted this charitable donation. A memecoin project named Neiro on ETH (NEIRO) sought to leverage Buterin’s influence for attention, and their plan worked when Buterin sold the tokens.
Initially, this led to a 60% drop in the token’s price, but it quickly rebounded with a 200% surge.
Neiro on Ethereum’s X account then tagged Buterin in a post, requesting that he donate part of the proceeds to a shelter for stray dogs. They wrote:
“Our humble ask is that you donate part of the proceeds to a stray dog shelter. And thank you for building our playground!”
In response, Buterin shared the donation receipt on X, confirming that the contribution had been made.
Memecoin Tokens for Public Good
Buterin has previously expressed dissatisfaction with celebrity-endorsed memecoin tokens, stating he was “quite unhappy” with the cycle of celebrity experimentation.
On June 5, he emphasized that financialization should serve the public good by adding value to society through promoting art and creativity, supporting open-source software, or enhancing healthcare.
Buterin’s comments responded to the possibility of the Iggy Azalea-backed Mother Iggy (MOTHER) memecoin becoming the “mother” of the celebrity experimentation phase.
Although Buterin was disappointed by the celebrity involvement in this cycle, he praised Ashton Kutcher and Mila Kunis’ Stoner Cats project, which used non-fungible tokens (NFTs) to fund an animated show.
“At least Stoner Cats funded an actual show, whereas the memecoins lack substance and purpose,” Buterin wrote.
