Vitalik Buterin, Ethereum co-founder, is giving back to the community using crypto. The 30-year-old developer donated over $500k in animal-themed memecoins to an animal-focused charity.
Buterin donated $532,000 worth of $ETH to the Effective Altruism Fund’s Animal Welfare Fund. But where did all that crypto come from? The Ethereum developer explained that the funds came from selling animal-themed memecoins he received as donations from users.
Crypto users love to send memecoins as donations to prominent crypto figures like Buterin. Most consider Buterin one of the fathers of modern crypto. Over the past year, users have flooded Buterin’s Ethereum wallet with animal-themed memecoins, even though he never asked for them.
Memecoins can do more good!
Donating memecoins to figures like Buterin isn’t a new trend. Most projects or users use this strategy to get a stamp of approval on their tokens. Back in 2021, Shiba Inu’s developers sent 50% of the token’s total supply to Buterin’s wallet. The tokens were worth around $7 billion at the time.
Interestingly, Buterin refused to keep such a huge sum. Instead, he donated $1 billion of it to help with Covid relief in India. He burned the rest, saying he didn’t want that kind of power. Buterin has never been a fan of people sending him unsolicited donations. And he emphasized that again this week.
The famous developer noted that he’d “appreciate it if coin holdings just get allocated to the charities directly.” Buterin had previously called for increased use of memecoins for charity. The Ethereum co-founder is a vocal critic of the traditional use of memecoins for gambling and speculation.
Buterin believes memecoins can make a lot of difference in providing aid to those in need. He explained that projects can improve society by promoting art, supporting open-source software. And improving healthcare.
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