cryptopolitan.com
Vitalik Buterin, the creator of Ethereum, has a simple message for memecoin creators:- Send your tokens to charity.
He’s not interested in unsolicited tokens filling up his wallet. He made it clear that while he appreciates memecoins that donate parts of their supply to charity, it would be better if creators just donated directly instead of sending coins to him.
He gave a shout out to memecoins like EBULL, which recently donated to various groups. Buterin has always made it known that any tokens sent to him get donated.
Just like the 10 billion MOODENG tokens from four days ago, which he sent to fund anti-airborne-disease technology.
Buterin suggested that memecoin communities should create DAOs to engage their members in deciding how donations are handled.
“The best thing for memecoins,” he said, “is if they can contribute positively to the world.”
Buterin offloads $360,000 worth of memecoins
Buterin sold a huge amount of meme tokens on October 5, cashing in around $341,000, or 140.67 ETH, from a collection of unsolicited coins developers had sent him.
This included MOODENG, NEIRO, DEGEN, and KABOSU. Memecoins developers tend to flood his wallet without being asked, but Buterin doesn’t sit on them.
Here’s the breakdown of what he sold:-
- 11.76 billion MOODENG tokens for about 21 ETH (~$51,000)
- 70.71 million NEIRO tokens cashed in for around 30 ETH (~$72,400)
- 7.8 million DEGEN tokens netted him 25 ETH (~$61,000)
- 16.03 billion KABOSU tokens brought in around 22.94 ETH (~$56,000)
In addition to the memecoins, Buterin also swapped 100,000 USDT for 41.69 ETH, bringing the total value of all the tokens and USDT he sold to approximately $360,000.
In a separate transaction, Buterin offloaded 10 billion MOODENGs for 308.7 ETH on Cow Swap within 20 minutes. He later transferred 260.15 ETH to a charity fund called Kanro.
Even with the sale, vitalik.eth still holds 40 billion MOODENG tokens, which are valued at roughly $4.32 million.
Buterin’s take on this meme coin cycle
After his recent sales, Buterin donated 100 ETH, worth around $242,000, to the “Free Alexey & Roman” campaign. This initiative is working to defend Tornado Cash developers who are currently in custody.
Earlier this year, he donated $532,000 worth of ETH to the Animal Welfare Fund after selling another large chunk of animal-themed memecoins.
Buterin has repeatedly criticized tokens that use famous names to draw in investors without offering any real value.
In his view, these celebrity meme tokens are pulling attention and funds away from projects that could make a real difference.
Buterin wants to see Ethereum be a platform for positive social impact, not just another way for influencers to cash in.
He has called the ‘Stoner Cats’ project by Ashton Kutcher and Mila Kunis a more respectable effort since it at least funded a real show, unlike the majority of celebrity-driven memecoins of this cycle.
In a blog post from March, he criticized the crypto community for being overrun by low-value meme coins. He even called out Solana memecoins for being openly racist.
In his eyes, too many memecoins create dissatisfaction within their communities.