[NEWS] Vitalik Buterin donates meme coins to charity after converting them

Vitalik Buterin, co-founder of Ethereum (ETH), announced on the 7th that he donated the entire amount of 308 ETH he obtained by exchanging the meme coin Moodeng sent to him to the Kanro charity, which supports patients with airborne infectious diseases.

He sold 1 billion Moodeng, equivalent to about 180 million yen. Buterin's wallet "vitalik.eth" still holds 40 billion Moodeng.

Buterin reiterated that "all meme coins sent to me will be donated to charity." At the same time, he added that "project creators should donate tokens directly to charity or create a DAO so people can track where their money is going."

Buterin commented in his X post, "I am grateful to all meme coins that donate part of their supply directly to charity. Everything sent to me will be donated to charity (Thank you, Moodeng! Today's 10 Billion will be donated to airborne infectious disease prevention technology)."

He continued, "I would actually prefer if everyone sent it directly to charity. I would like to see a DAO created so that the community can directly participate in the decision and process. As I mentioned before, I think the best thing for a meme coin is that it brings the maximum positive benefit to the world."

The meme coin Mooden is named after the much talked about female pygmy hippopotamus of the same name. It was raised at Khao Kheow Zoo in Thailand and has become popular for its adorable appearance and seemingly aggressive nature.

According to cryptocurrency data site CoinGecko, Mooden rose nearly 500% in the past 24 hours after Buterin's mention, but has since scaled back its gains and is currently trading at around $0.105 (about 15 yen).

Mooden developers sent Buterin a portion of the supply when it was first minted in September, and on October 5, Buterin sold $50,000 worth of Mooden for Ethereum, along with other tokens.

Buterin’s words and actions drive memecoin value

Buterin regularly receives memecoins and tokens as a marketing ploy first popularized by Shiba Inu (SHIB). Memecoins’ seven-day upside was over 2,700%, according to DEXTool data.

Reference: Vitalik Buterin
Image: Shutterstock

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