Ethereum Vitalik Buterin, once again made headlines by selling memecoins, generating a profit of over $100,000. According to the trac tracking service https://twitter.com/lookonchain/status/1876208904268665002 Buterin sold a range of memecoins he received for free, including DOG, ESTEE and DINU, in exchange for Ethereum and USDC.
According to Lookonchain’s update on X, Buterin sold 340 billion $DOG tokens for 5.2 ETH. It also sold 50.48 billion ESTEE tokens and 10 trillion DINU tokens for 116,307 and 4,181 USDC, respectively. The total amount of funds he received at the time of the sale was $139,000.
Although the final destination of the funds remains unclear, the Ether co-founder has a well-established history of donating these profits to charity.
Memecoin sales likely go to charitable causes
This latest transaction follows a long history of similar actions from the Ethereum creator. Last year in October, Buterin amassed 1,101 ETH (worth $2.78 million at the time) through memecoin sales.
Of this amount, he donated 360.16 ETH, or approximately $884,000, to various charitable causes. Tokens involved in these sales included significant amounts of coins like 10 billion MOODENG, which fetched 395.95 ETH ($982,000), 200,000 MSTR for 93.23 ETH ($231,000), and 500 million EBULL for 73.79 ETH ($183,000), according to the reports .
Donations from these sales included 320 ETH, or approximately $1.07 million, that Buterin allegedly directed to Coin Center, a nonprofit organization based in Washington, DC.
On several occasions, Buterin has expressed his stance towards developers sending him memecoins, begging them to stop. The Canadian programmer shared his concerns about X, stating: “Everything sent to me also goes to charity. »
He encouraged memecoin creators to contribute directly to charitable efforts or form decentralized autonomous organizations (DAOs) to involve their communities in decision-making.
Additionally, Vitalik has also been critical of the celebrity memecoin frenzy, saying they “lack substance and purpose.”
The Ethereum a ensuite critical the creators of these meme tokens for exploiting celebrity names to attract trac investors, often offering little value in return. He argues that this practice diverts resources from higher impact projects and ignores the fundamental principles on which Ethereum was founded.
Supporting Tornado Cash Developer’s Legal Troubles
Beyond his charitable work related to the sale of memecoins, Vitalik Buterin also provided support to another crypto figure facing legal difficulties. On December 31, Buterin donated 50 ETH to help with the legal defense of Roman Storm project Tornado Cash
Storm is scheduled to go on trial in the United States on April 14 on allegations of money laundering and sanctions violations related to Tornado Cash. As regulators seek to jail the co-founder, he continues to receive broad support from the crypto community.
The accused shared his gratitude for Vitalik Buterin’s generous contribution, thanking him for his support during this difficult time. “ Huge gratitude to Vitalik Buterin for his generous donation to my legal defense fund “wrote Storm. “ Your unwavering support and leadership by example continues to inspire us all. Thank you for being by my side during this difficult time. “
Storm also do an update on its legal defense fund, which has currently raised $640,061, or about 33 percent of its $2 million goal.
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