- Vitalik Buterin sold meme coins and USDT worth $360,000, converting them into 140.6 ETH within just 30 minutes.
- Buterin donated 100 ETH, worth approximately $242,000, to the legal defense of TornadoCash developers Alexey Pertsev and Roman Storm.
- Buterin had received all the tokens for free from their developers, including significant amounts of Neiro, MOODENG, DEGEN, and KABOSU.
Ethereum co-founder Vitalik Buterin has reportedly sold a significant portion of meme coins and USDT from his wallet. The transaction, as shared by Spotonchain, took place within a span of half an hour. Buterin exchanged various tokens for 140.6 Ethereum (ETH), worth approximately $360,000 in fiat currency.
Details of the Sale
According to Chinese crypto journalist Colin Wu, Buterin’s sales included 70.71 million Neiro, 11.76 billion MOODENG, 7.8 million DEGEN, and 16.03 billion KABOSU. These tokens were sent to exchanges, along with 100,000 USDT, which had been donated to him by the CATE project. Importantly, Buterin had received these tokens for free from their developers.
In total, Buterin’s sale earned him 140.6 ETH. At the time of the transaction, Ethereum was priced around $2,416. These sales were completed quickly, and the tokens were traded at a time when the price of ETH had recently seen a small 2.2% increase in value.
Donation to TornadoCash Legal Defense
Spotonchain further reported that Buterin contributed 100 ETH, worth about $242,000, to support the legal defense of TornadoCash developers Alexey Pertsev and Roman Storm. The developers are currently in custody, facing charges related to their work on the privacy-focused platform.
Earlier this week, Buterin was also observed moving 649 ETH, valued at $1.79 million, to Paxos. This coincided with a minor 1% dip in Ethereum’s price. While sales by prominent figures like Buterin do not always have an immediate impact on the market, they are closely monitored due to their potential to influence prices.
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