Ethereum’s Buterin dumps 10b MOODENG tokens, donates $640k to his charity fund

Vitalik Buterin appears to have sold 10 billion MOODENG tokens and donated over $640,000 in crypto to the biotech relief fund.

Ethereum co-founder Vitalik Buterin donated the proceeds from selling 10 billion (MOODENG) tokens to biotech fund Kanro, advocating for memecoins to maximize positive impact through charitable contributions.

According to on-chain data from blockchain analytics firm Lookonchain, the sale brought in 308.69 ETH, worth about $762,000, of which Buterin donated 260.16 ETH (about $642,000) to biotech fund Kanro.

I appreciate all memecoins donating a portion of their supply directly to charities.

(e.g. last month I saw ebull post a bunch to various groups)

Everything sent to me is also donated to charity (thanks moodeng! From today 10B goes to the fight against airborne diseases…

— vitalik.eth (@VitalikButerin) October 7, 2024

After the exchange, Buterin touched on the sale in X and expressed his support for memecoins that contribute to charitable causes. He stated that all tokens sent to him, including the MOODENG tokens he allocated to technology to combat airborne diseases, were donated to charities.

I appreciate all memecoins donating a portion of their supply directly to charities.

(e.g. last month I saw ebull post a bunch to various groups)

Everything sent to me is also donated to charity (thanks moodeng! From today 10B goes to the fight against airborne diseases…

— vitalik.eth (@VitalikButerin) October 7, 2024

“I’ve said before that I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it’s great to see moments where that actually happens!”

Vitalik Buterin

MOODENG purchased 20% shares after Buterin’s sale

Despite Buterin’s statement, the sell-off caused concern among crypto holders and caused MOODENG’s price to drop 20% to $0.10.

Kanro, co-founded by Buterin, focuses on open source or IP-free projects, directing resources to pandemic solutions, especially in low-income countries. In November 2023, Kanro donated $15 million to the PolyBio Research Foundation to focus on research and clinical trials on SARS-CoV-2.

MOODENG, a memecoin launched on Solana via Pump.fun, is inspired by the Thai pygmy hippo Moo Deng. The token quickly gained momentum, amassing more than 18,000 holders and surpassing the $100 million market cap with $145 million in 24-hour trading volume.