Michaela Alvez
Ethereum co-founder Vitalik Buterin recently made headlines for selling four meme coins for 24.5 ETH, valued at over $81,000, before donating a significant sum to the cryptocurrency policy group Coin Center.
Coin Center is a leading non-profit research and advocacy organization that focuses on policy issues surrounding cryptocurrency and blockchain technology. The efforts of the organization help shape the regulatory landscape for digital assets in the U.S. and beyond.
Buterin’s donation of 320 ETH, worth approximately $1.7 million, highlights his ongoing support for blockchain advocacy and research.
Vitalik Buterin (@VitalikButerin) just sold 4 #memecoins for 24.5 $ETH ($81.8K) and donated 320 $ETH ($1.07M) to Coin Center (@coincenter).
— Spot On Chain (@spotonchain) November 27, 2024
The meme coins that he sold include:
• 330B $LEDOG ($36.7K) for 10.96 $ETH
• 3.03T $DOGC ($36K) for 10.8 $ETH
• 19.95M #99 ($5.3K) for… https://t.co/YiYn7lKUAM pic.twitter.com/xd1zYblO2l
Buterin’s decision to sell meme coins and donate to Coin Center is consistent with his previous charitable actions. The Ethereum co-founder has been known for making significant donations to various causes over the years.
In October 2024, Buterin converted $1.6 million worth of the meme coins that he was given into ETH, promising to donate the funds to charity.
Buterin expressed appreciation for meme coin issuers who sent him coins for charitable purposes, but suggested that these issuers might consider making direct donations instead.
Vitalik Buterin Burns $6B in SHIB Tokens
In 2021, the Shiba Inu community made a significant move by sending 50% of the total Shiba Inu (SHIB) token supply to Buterin. Buterin burned 90% of these tokens worth an estimated $6.7 billion.
Over 410 trillion SHIB tokens were sent to a dead wallet address, effectively removing them from circulation. Buterin then gave 50 trillion SHIB tokens, worth around $1.2 billion at the time, to an Indian COVID-19 relief fund.
Buterin’s decision to burn a vast number of SHIB tokens is still regarded as a significant moment in SHIB’s history. This act helped to increase the value and visibility of SHIB.
Moreover, his decision to donate 10% of the remaining tokens to charity solidified his personal commitment to philanthropic causes, adding a layer of goodwill to the action.
Read More
- Vitalik Buterin Rejects Michael Saylor’s Bitcoin Custody Proposal
- Vitalik Buterin Proposes Solutions to Ethereum Staking Centralization Issues
- Ethereum’s Future: How Vitalik Buterin Plans to Transform Staking and Decentralization
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
