Ethereum

Impact

Tornado Cash

Optimism

Tornado

<ul class="wp-block-list">
  
 <li>Vitalik Buterin sold 10 billion MOODENG tokens, donating 260.15 ETH ($640K) to Kanro for pandemic solutions, causing a 20% price drop.</li>   
 <li>Vitalik encourages memecoin communities to form DAOs, using donations for charitable causes, like anti-airborne disease tech.</li>   
 <li>Buterin's charity-driven token sales support global efforts, including legal defense for Tornado Cash developers and pandemic solutions.</li> 
</ul>   
<p>Vitalik Buterin, Ethereum’s co-founder, sold 10 billion MOODENG meme coins for 308.7 ETH, worth approximately $762,000, on October 7, 2024. Following the sale, <a href="https://x.com/VitalikButerin/status/1843260976206082216" target="_blank" rel="noreferrer noopener">Buterin transferred 260.15 ETH</a> (around $640,000) to his biotech charity, Kanro, which focuses on pandemic solutions, particularly in underdeveloped regions. His transaction led to a 20% drop in MOODENG’s price, reducing its value to $0.10, and causing concern among holders.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/WuBlockchain/status/1843262606259482952 
 </div>
</figure>   
<p>Besides his sale, Buterin expressed his <a href="https://x.com/VitalikButerin/status/1843260976206082216" target="_blank" rel="noreferrer noopener">appreciation</a> for meme coins that donate portions of their supply to charity. In his tweet, he emphasized the importance of meme coins benefiting global causes. He further encouraged communities to form DAOs, promoting decentralized decision-making in charitable endeavours.&nbsp;</p>   
<p>He stated that donations sent to him would always be redirected to charitable causes. Buterin remains steadfast in this position, insisting that memecoins can be maximally positive when tied to global improvements.</p>   
<h2 class="wp-block-heading" id="h-buterin-s-charitable-efforts-and-market-impact">Buterin’s Charitable Efforts and Market Impact</h2>   
<p>Moreover, Buterin's transaction had effects on the memecoin market. The MOODENG sale caused anxiety within its community, but Buterin reassured investors that charity-driven efforts are the coins’ ultimate purpose. His direct involvement in charitable initiatives has cemented his reputation for using crypto for social good.</p>   
<p>Additionally, Buterin has made other notable donations, including 70.71 million NEIRO tokens and funds from MOODENG to <a href="https://cryptonewsland.com/vitalik-buterin-donates-100-eth-to-support-tornado-cash-developers/" target="_blank" rel="noreferrer noopener sponsored nofollow">support legal efforts for Tornado Cash developers</a>. This campaign, dubbed "Free Alexey &amp; Roman," helps defend developers facing trial in New York for privacy-related charges.</p>   
<h2 class="wp-block-heading" id="h-vitalik-s-broader-role-in-ethereum-and-blockchain-development">Vitalik's Broader Role in Ethereum and Blockchain Development</h2>   
<p>Besides his philanthropic endeavors, Buterin remains a key figure in Ethereum’s development. Recently, he endorsed the <a href="https://docs.optimism.io/builders/app-developers/tutorials/cross-dom-bridge-erc20" target="_blank" rel="noreferrer noopener">Optimism</a> SuperchainERC20 update, which introduces a new cross-chain interface to boost scalability. This update aims to increase collaboration between Ethereum’s layer-2 solutions. Moreover, Buterin has proposed lowering the Ethereum staking requirement from 32 ETH to 16 ETH, with long-term plans to reduce it to just 1 ETH.</p> 
<p>The post <a href="https://cryptonewsland.com/vitalik-buterin-sells-10b-moodeng-tokens-donates-proceeds-to-charity/">Vitalik Buterin Sells 10B MOODENG Tokens, Donates Proceeds to Charity</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Vitalik Buterin Sells 10B MOODENG Tokens, Donates Proceeds to Charity

Table of Contents

Crypto News Land

Other articles published on Oct 8, 2024

Tim Draper Predicts Bitcoin Price Will ‘Blow Past $250,000’, Blames SEC for Delayed Rallies

Accolade’s Fiscal Second Quarter Results: Revenue Surges by 10%

BingX Exchange Hit by $26M Crypto Theft: Report

PayPal Opens Cryptocurrency Market to U.S. Business Accounts

Hamster Kombat's Season 1 Airdrop: Only 43% of Users Eligible

Crypto Insiders Reveal 5 Altcoins Set for Massive Growth by End of 2024

Join our free newsletter for daily crypto updates!