Vitalik Buterin Sold $2 Million Worth of Meme Tokens
Date: 2024-10-14 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
Vitalik Buterin, the co-founder of Ethereum, sold more than $2 million worth of meme tokens in the last 24 hours. According to on-chain analytics platform Lookonchain, the profit from these transactions amounted to 908.77 ETH, which is equivalent to $2.24 million.
Buterin made the largest profit from MOODENG tokens - about $976,000. The smallest contribution to the total amount was made by VITALIK memecoins, which were sold for $14,000. Among the other tokens he got rid of were MSTR, EBULL, POPCAT, Milo, FWOG, and TCATI.
Cryptocurrency celebrities like Buterin often receive tokens for free. These gifts serve two functions at once: they serve as donations and are also part of marketing strategies that help promote crypto assets on the market. An example of such a tactic was Shiba Inu (SHIB), a significant share of which was given to Buterin, which created the impression that he supports the project.
Vitalik Buterin himself has repeatedly stated that he directs all funds received from the sale of such tokens to charity. At the same time, he encourages crypto projects to donate money directly to charities, bypassing his personal wallet.
This event again raises questions about the ethics of such marketing approaches in the crypto industry and how such actions affect the perception of crypto assets on the market.
