Ethereum Co-Founder Vitalik Buterin Sell Meme Coins, Here’s Why

Ethereum co-founder Vitalik Buterin converted some meme coins he received into 22.89 ETH today. He later donated 320 ETH approximately $1.07 million to Coin Center, a prominent cryptocurrency policy advocacy organization.

Buterin’s actions reflect his stance on these tokens and commitment to crypto education. He supports initiatives driving policy development. Check the top meme coins making waves in this bull market.

Vitalik Buterin Converts Free Meme Coins into ETH

On November 27, blockchain data tracker Lookonchain revealed that Buterin sold several meme cryptocurrencies transferred to his wallet. In return, he received 22.89 ETH, valued at approximately $76,500. As per Arkham Intelligence data , Vitalik Buterin received these coins for free.

Buterin similar to Changpeng Zhao discouraged meme tokens from sending tokens to his wallet. Instead, he recommends donating these funds directly to impactful causes.

Following the meme coin sale, Vitalik Buterin donated 320 ETH (valued at $1.07 million) to Coin Center. This contribution underscores Buterin’s dedication to promoting ethics in the blockchain space. He remains committed to advancing regulatory clarity.

Coin Center based in Washington D.C., is a leading advocacy group for cryptocurrency policy. The non-profit focuses on protecting individual rights to create, use, and operate open blockchain networks like Bitcoin and Ethereum.

It accomplishes its mission by producing policy research, educating policymakers, and advocating for balanced legislation. It also litigates to defend civil liberties in the digital age. Vitalik Buterin’s donation is expected to strengthen the organization’s efforts in defending decentralized technology and promoting innovation.

Ethereum Price Context

Ethereum (ETH) price is trading at $3,426 experiencing a slight dip over the past 24 hours. Its daily low and high range from $3,255 to $3,443. Ethereum’s market cap stands at $408 billion, with a trading volume of $40 billion in the past day. The cryptocurrency commands a market dominance of 12.8%, cementing its position as the second-largest cryptocurrency by market capitalization.

Moreover, NYSE Arca filed a 19b-4 proposal for Bitwise’s Ethereum ETP. This move highlights the growing interest in Ethereum-based financial products. It signals increasing institutional involvement in the Ethereum market.

Recently, Ethereum co-founder Vitalik Buterin purchased ANON tokens of Anoncast for posting anonymously on Farcaster account.