Buterin Donates $640K After Selling MOODENG Tokens

It appears that Vitalik Buterin has sold 10 billion MOODENG tokens and donated over $640,000 in crypto to his biotech charity fund

Vitalik Buterin, the co-founder of Ethereum, has sold 10 billion (MOODENG) tokens and donated the proceeds to his biotech fund, Kanro. He is also advocating for memecoins to maximize their positive impact through charitable contributions.

The transaction generated 308.69 ETH, which is equivalent to approximately $762,000, according to on-chain data from blockchain analytics firm Lookonchain. Of this amount, Buterin donated 260.16 ETH (approximately $642,000) to his biotech fund Kanro.

Buterin addressed the transaction on X after the trade, expressing his support for memecoins that support charitable causes. He stated that all tokens sent to him are donated to charity, including the MOODENG tokens, which he allocated to anti-airborne disease technology.

In the wake of Buterin’s sale, MOODENG experiences a 20% decline.

MOODENG’s price plummeted by 20% to $0.10, despite Buterin’s clarification.

Kanro, which was co-founded by Buterin, allocates resources to pandemic solutions, with a particular emphasis on open-source or IP-free projects, notably in low-income countries.

Kanro donated $15 million to the PolyBio Research Foundation in November 2023 to concentrate on SARS-CoV-2 research and clinical trials.

MOODENG, a memecoin that was originally introduced on Solana through Pump.fun, was inspired by Moo Deng, a baby pygmy hippopotamus from Thailand.

The token has rapidly acquired momentum, surpassing a $100 million market cap and reaching a 24-hour trading volume of $145 million, with over 18,000 holders.