coindesk.com
09 March 2023 14:57, UTC
Vitalik Buterin liquidated a portion of his altcoin holdings this week, saying later that the tokens had "no cultural or moral value."
Buterin sold 9.9 billion CULT tokens, the native token of the CultDAO, for a total of 58 ether (ETH). He also sold his BITE and MOPS holdings, according to blockchain analyst PeckShield. In total, the sales added up to 220 ether.
"BITE and most other coins being discussed on this forum are shitcoins," Buterin wrote on Reddit. "[They] have no redeeming cultural or moral value, and will probably lose you most of the money you put into them. I anti-endorse these projects to the greatest extent."
In 2021, Buterin prompted a swing in the price of Shiba Inu (SHIB) tokens when he burned his holdings worth $6 billion after he was effectively given half of the token's supply. He said at the time that he didn't want the power of holding such a significant proportion of Shib's tokens.
