Vitalik Donates 200 ETH from Memecoin Sales to Charity
Ethereum’s Co-founder, Vitalik Buterin, made a generous donation of 200 ETH to charity recently, using funds accumulated from a variety of animal-themed coins that had been sent to him over the past year. The total value of the donation amounted to $530,000 at the time it was made, and Buterin chose to contribute it to the Effective Altruism Funds (Animal Welfare Fund).
Following the donation, Vitalik shared on social media, “charity donation done, covering all animal coins from the past year or so!” He further encouraged communities to contribute directly to charities instead of sending tokens to him, emphasizing the need for more sophisticated public goods funding in the current era.
Developers and communities associated with memecoins have developed a practice of sending excess tokens to prominent figures in the crypto space. This gesture is sometimes intended as a charitable act to involve the individual in their community, while on other occasions, it serves as a deceptive marketing strategy to create the illusion that “Vitalik has invested in our token.”
Known for his admiration of the late shiba inu Kabosu, famously linked to the Doge meme, Vitalik often receives dog-themed memecoins in his wallets. Similarly, a wallet purportedly belonging to Donald Trump frequently receives various Trump and MAGA-related memecoins.
By choosing to donate the accumulated funds, Buterin reinforces his belief, as stated in a recent article, that there is potential for a more positive and beneficial approach to memecoin trading in the crypto sphere. His actions align with his vision for a more constructive and mutually beneficial ecosystem within the memecoin community.
