Vitalik Buterin Sells 10 Billion MOODENG Tokens, Donates $640K to Pandemic Relief

• Vitalik Buterin sold 10 billion MOODENG tokens, donating 260.15 ETH to Kanro for pandemic solutions, sparking a 20% price drop.
• Buterin encouraged meme coin communities to form DAOs, using donations to support causes like anti-airborne disease technologies.
• His contributions also back legal defense efforts for Tornado Cash developers, highlighting Buterin’s ongoing charity-driven crypto activity.

Vitalik Buterin, Ethereum’s co-founder, sold 10 billion MOODENG meme coins on October 7, 2024, for approximately 308.7 ETH, valued at $762,000. Following the sale, he transferred 260.15 ETH (around $640,000) to Kanro, his biotech charity, which focuses on pandemic solutions in underdeveloped regions. This transaction caused a 20% drop in MOODENG’s price, bringing its value down to $0.10, raising concerns among token holders.

Buterin Advocates for Memecoin Charitable Contributions

Besides his token sale, Buterin reiterated his appreciation for meme coins that donate portions of their supply to charitable causes. In a tweet, he highlighted the potential for these tokens to make a positive global impact. Buterin encouraged memecoin communities to form Decentralized Autonomous Organizations (DAOs) to promote decentralized decision-making in charitable projects.

Market Impact and Community Reactions

Buterin’s sale had a significant effect on the MOODENG market. Many investors expressed concerns over the price drop, but Buterin reassured them, emphasizing that charity is the ultimate goal of these tokens. His ongoing involvement in charitable efforts continues to shape his role in the cryptocurrency space, supporting a vision where digital assets can drive social good.

Buterin’s Broader Charity Initiatives

Moreover, Buterin’s charitable efforts extend beyond the MOODENG sale. Recently, he donated 70.71 million NEIRO tokens to fund legal defenses for Tornado Cash developers, a campaign aimed at defending developers facing privacy-related charges in New York. This demonstrates his commitment to using crypto for legal and humanitarian causes.

In addition to his philanthropic work, Buterin remains deeply involved in Ethereum’s development. He recently endorsed the Optimism Superchain ERC20 update, which is designed to enhance scalability by fostering greater collaboration between Ethereum’s layer-2 solutions. Additionally, Buterin proposed reducing Ethereum’s staking requirements from 32 ETH to 16 ETH, with plans to eventually lower it to just 1 ETH in the long term.