As a researcher who has closely followed the cryptocurrency space since its inception, I find Vitalik Buterin’s latest move to be yet another testament to his commitment towards using technology for the greater good. His decision to sell 10 billion MOODENG tokens and donate the proceeds to his biotech charity fund is a powerful demonstration of how blockchain and cryptocurrencies can be harnessed for charitable causes.
It seems that Vitalik Buterin has offloaded approximately 10 billion MOODENG tokens, generating a value of around $640,000 in cryptocurrency, which he then donated to his charitable organization focusing on biotechnology.
As a researcher, I’m sharing an update about Vitalik Buterin, one of Ethereum‘s co-founders. He recently offloaded 10 billion tokens from an unspecified project (MOODENG), and instead of keeping the earnings for himself, he chose to invest them in his biotech fund, Kanro. Interestingly, Buterin is also championing the use of memecoins, suggesting that they could be leveraged to amplify their positive impact by channeling proceeds towards charitable causes.
As per data from blockchain analysis company Lookonchain, the sale generated approximately 308.69 Ether, equivalent to around $762,000. Out of this amount, Vitalik Buterin donated roughly 260.16 Ether or nearly $642,000 to his biotech fund, Kanro.
I’m fond of memecoins that automatically allocate a portion of their tokens for charitable causes. For instance, ebull recently distributed a large amount to several organizations last month. Similarly, any donations sent to me will be forwarded to charity (thanks moodeng! The 10 billion from today is earmarked for anti-airborne-disease initiatives…).
— vitalik.eth (@VitalikButerin) October 7, 2024
After completing the trade, Buterin spoke positively about the sale on X, expressing approval for memecoins that aid charitable initiatives. He noted that any tokens sent to him are given to charity, including the MOODENG tokens, which he designated for research into anti-airborne disease technology.
I’m fond of memecoins that automatically set aside a portion for charitable causes. For instance, ebull recently contributed generously to several organizations last month. Whatever I receive is also immediately donated, like the 10 billion from moodeng today which will be going towards anti-airborne-disease efforts (thanks moodeng!).
— vitalik.eth (@VitalikButerin) October 7, 2024
As I mentioned earlier, I believe memecoins should bring about the most benefit for everyone worldwide. It’s wonderful to observe instances where this ideal becomes a reality!
Vitalik Buterin
MOODENG tanks 20% following Buterin’s sale
Although Buterin provided an explanation, the sale sparked worry among cryptocurrency owners, leading to a 20% decrease in MOODENG‘s value, bringing it down to $0.10.
Under the leadership of Buterin, Kanro channels resources towards finding solutions for pandemics, especially in economically disadvantaged nations, with a keen interest in projects that are open-source or intellectual property (IP) free. In November 2023, Kanro donated $15 million to the PolyBio Research Foundation to concentrate on research and clinical trials specifically related to SARS-CoV-2.
MOODENG, a digital coin introduced on the Solana platform via Pump.fun, was sparked by Moo Deng, a tiny Thai pygmy hippopotamus. This token has swiftly garnered popularity, boasting over 18,000 holders and breaking through a $100 million market capitalization, while recording an impressive $145 million in trading volume within the past 24 hours.
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2024-10-07 16:58