Ethereum co-founder Vitalik Buterin has converted $1.6 million in memecoins into Ether, part of a pledge to donate to charity.
Vitalik Buterin, the co-creator of Ethereum, has converted an additional $1.6 million in memecoins that were sent to him into Ether. He had previously stated that the Ether would be donated to charities.
In an Oct. 13 X post, blockchain analytics firm Spot On Chain reported that the transaction comprised $982,800 of Moo Deng (MOODENG), $231,000 of Monsterra (MSTR), and $183,000 of ETHEREUM IS GOOD (EBULL).
Buterin also divested his holdings in Popcat (POPCAT), Fwog (FWOG), and Vitalek Buteren (VITALIK).
Spot On Chain announced on October 13 that he has donated $884,000 to charities and converted $2.78 million in memecoins into Ether in the past nine days.
Buterin commended memecoin issuers for sending him coins to donate, but he recommended they consider donating directly.
Buterin announced in an X post on October 7 that he would donate all 10 billion memecoin tokens he had received to an organization specializing in anti-airborne-disease technology.
Buterin donated all of the animal-themed memecoins he had received over the past year to the Animal Welfare Fund of Effective Altruism Funds on August 15.
Additional contributions from Buterin may be forthcoming.
Spot On Chain’s data indicates that his $700 million crypto portfolio includes $2.4 million in MOODENG tokens, $144,000 in Neiro (NEIRO), $117,000 in MSTR, and $80,000 in Degen (DEGEN).
Buterin has consistently maintained that memecoins can make a positive impact on society by providing funding for significant public initiatives or enabling individuals from low-income countries to earn a living.
In the interim, Buterin has condemned memecoins that are themed around celebrities and are designed to benefit celebrities and early investors.
Economists Tyler Cowen and Alex Tabarrok recently proposed that Buterin be awarded the Nobel Prize in Economic Sciences for 2024.
“Vitalik constructed a platform, established a currency, and, in a sense, disproved Mises’ regression theorem, thereby following in the footsteps of Satoshi. However, Cowen remarked, ‘My goodness, what does one have to do to receive a Nobel Prize?'” during an episode of the Marginal Revolution podcast on October 8.
“Not only that, but Vitalik has continued to contribute to the mechanism design of Ethereum by transitioning to proof-of-stake,” Tabarrok agreed.
