Vitalik Buterin Unloads Meme Coin Stash, Donates Proceeds to Legal Defense Fund

October 5, 2024 William Ross Cryptocurrency News 0

Vitalik Buterin sold his meme coin holdings primarily to support a cause
Vitalik Buterin sold his meme coin holdings primarily to support a cause

Ethereum co-founder Vitalik Buterin has sold off a substantial portion of his meme coin holdings, generating considerable buzz in the cryptocurrency community. The sale, which included various meme coins and USDT stablecoins, was completed in just 30 minutes and netted Buterin approximately $360,000 in fiat.

Buterin’s sale included 70.71 million Neiro, 11.76 billion MOODENG, 7.8 million DEGEN, 16.03 billion KABOSU, and 100,000 USDT donated by the CATE project. The proceeds were converted into 140.6 ETH, valued at around $340,000.

In a notable act of philanthropy, Buterin donated 100 ETH (approximately $242,000) to the “Free Alexey & Roman” campaign. This campaign supports the legal defense of TornadoCash developers Alexey Pertsev and Roman Storm1 and aims to aid the developers who are currently in custody.

Earlier this week, Buterin was also observed moving 649 ETH to Paxos, a transaction valued at $1.79 million at the time.

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Vitalik Buterin’s recent sale of 649 ETH, valued at $1.79 million, then coincided with a slight dip in Ethereum’s price. While the price drop was less than 1%, transactions by high-profile figures like Buterin can influence market sentiment and prices, even if the effects aren’t immediately apparent.

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William Ross
About William Ross 277 Articles
I am a cryptocurrency enthusiast and writer with over five years of experience in the industry. I have been following the development and innovation of Bitcoin and Ethereum since their inception, and I enjoy sharing my insights and analysis with readers. I have written for various reputable platforms, such as CoinDesk, Cointelegraph, and Decrypt, covering topics such as market trends, regulation, security, and adoption. I believe that cryptocurrency is the future of finance and technology, and I am passionate about educating and informing people about its benefits and challenges.

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