Vitalik Buterin Turns 6 Memecoins Into 257.11 ETH, Is for Donation Again?

• Vitalik Buterin sold six memecoins, including POPCAT, converting them into 257.11 ETH
• Vitalik Buterin has consistently sold airdropped memecoins and redirected the proceeds to charitable initiatives.

Recently selling six memecoins, Ethereum co-founder Vitalik Buterin acquired 257.11 ETH, roughly worth $633,000.

According to SpotOnChain, the memecoins he sold were 330,000 MSTR for 114 ETH, worth $281,000; 14 million POPCAT for 74.98 ETH, worth $185,000; 14 billion ITO for 36.55 ETH, worth $90,000; 1.05 million ETH6900 for 15.37 ETH, worth $37,800; 50.5 billion SATO for 11.34 ETH, worth $27,900; and 10 billion Milo for 4.77 ETH, worth approximately $11,700.

This sale represents yet another example of Buterin turning memecoins into ETH, an action he has displayed in recent weeks. Based on his past behavior, it seems that some of these coins will probably be given to charity in line with his past actions.

Vitalik Buterin (@VitalikButerin) acquired 257.11 $ETH ($633K) by selling 6 #memecoins in the past 50 minutes!

The 6 memecoins that he sold include:
• 330K $MSTR ($281K) for 114 $ETH
• 14M $POPCAT ($185K) for 74.98 $ETH
• 14B $ITO ($90K) for 36.55 $ETH
• 1.05M #ETH6900… https://t.co/p8fctn81oV pic.twitter.com/GSP0GZslb5

— Spot On Chain (@spotonchain) October 12, 2024

Vitalik Buterin: Philanthropy and Technical Contributions 

Earlier, in a similar vein, Buterin liquidated some memecoins acquired from airdrops into 140.6 ETH. CNF reports that some of the funds were sent to assist the legal defense of Tornado Cash developers, Alexey Pertsev and Roman Storm, underscoring Buterin’s ongoing support of important causes in the crypto industry.

The crypto community has praised and criticised Vitalik’s strategy for distributing these airdropped memecoins and using the money for charity reasons.

Though his philanthropic gifts have regularly matched his beliefs of supporting privacy-oriented projects and marginalized communities within the blockchain sector, his continuous acts of dumping memecoins may also indicate his doubt about the long-term worth of these tokens.

Apart from his participation in the cryptocurrency market, Buterin’s technical achievements are appreciated in more general economic spheres.

As we previously reported, notable economists have even said that Buterin deserves credit for helping Ethereum migrate from Proof-of-Work (PoW) to the more energy-efficient Proof-of-Stake (PoS) algorithm. This shift has been likened to “changing a car’s tires while driving,” a reflection of the intricacy and scope of the Ethereum update, sometimes referred to as “The Merge.”