Ethereum's Buterin dumps 10b MOODENG tokens, donates $640k to his charity fund

Vitalik Buterin appears to have sold 10 billion MOODENG tokens and donated over $640,000 worth of crypto to his biotech charity fund.

Ethereum co-founder Vitalik Buterin has sold 10 billion (MOODENG) tokens, donating the proceeds to his biotech fund Kanro, while advocating for memecoins to maximize positive impact through charitable contributions.

According to on-chain data from blockchain analytics firm Lookonchain, the sale brought in 308.69 ETH, worth about $762,000, of which Buterin donated 260.16 ETH (around $642,000) to his biotech fund Kanro.

Following the trade, Buterin addressed the sale on X, expressing support for memecoins that contribute to charitable causes. He mentioned that any tokens sent to him are donated to charity, including the MOODENG tokens, which he allocated to anti-airborne disease technology.

“I’ve said before that I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens!”

Vitalik Buterin

MOODENG tanks 20% following Buterin’s sale

Despite Buterin’s clarification, the sale caused concern among crypto holders, triggering a 20% drop in MOODENG’s price to $0.10.

Co-founded by Buterin, Kanro directs resources to pandemic solutions, particularly in low-income countries, with a focus on open-source or IP-free projects. In November 2023, Kanro gifted $15 million to the PolyBio Research Foundation to focus research and clinical trials on SARS-CoV-2.

MOODENG, a memecoin launched on Solana through Pump.fun, was inspired by Moo Deng, a baby pygmy hippopotamus from Thailand. The token has quickly gained traction, amassing over 18,000 holders and surpassing a $100 million market cap, with $145 million in 24-hour trading volume.