Vitalik Buterin, Ethereum Founder, Gives $500,000 to Charity from ‘Animal Coins’

Ethereum co-founder, Vitalik Buterin, has once again demonstrated his philanthropic spirit by donating $532,000 worth of ETH to the Effective Altruism Fund’s Animal Welfare Fund. This generous contribution was made possible by selling off all the “animal coins” that were sent to him by crypto users over the past year. These animal-themed, Ethereum-based meme coins found their way into Buterin’s wallet, despite his lack of interest in them.

Meme coins, often featuring animals as their central theme, are a common occurrence in the crypto space. Many of these tokens end up in the wallets of prominent figures like Buterin through unsolicited donations. These acts, resembling tithes, highlight Buterin’s revered status as one of the pioneers of the crypto industry.

Furthermore, such donations can inadvertently force individuals like Buterin to hold a significant portion of a token’s supply, adding an air of legitimacy to the project. Notably, the developers of Shiba Inu sent a massive amount of the token to Buterin’s wallet in 2021, prompting him to redirect a portion to aid Covid relief in India and burn the rest to avoid consolidating power.

Despite his charitable actions, Buterin has expressed his preference for direct donations to charities rather than through coin holdings. This sentiment aligns with his vision for a more sophisticated approach to public goods funding within the crypto community. In a blog post from March, Buterin urged the community to design meme coins with practical purposes, such as fundraising for charitable causes.

As a vocal critic of the predominant use of meme coins for speculative and often controversial purposes, Buterin continues to advocate for a shift towards more meaningful and impactful applications within the crypto space. His recent donation to the Animal Welfare Fund serves as a testament to his commitment to leveraging crypto assets for positive change.