Vitalik Buterin Sells Memecoin Worth IDR 34 Billion For Charity Donations

Vitalik Buterin sells memecoins worth IDR 34 billion for charity donations (Photo; Doc. Forbes)

JAKARTA - Vitalik Buterin, co-founder of Ethereum, has again shown his dedication to philanthropic activities by selling a number of memecoins he owns. Within 24 hours, Buterin managed to raise more than US$2 million or around Rp31 billion from the sale of various memecoins. Like previous habits, most of the proceeds from this sale are expected to be donated to charity activities.

On October 13, 2024, Buterin made a series of memecoin sales in its portfolio, resulting in 651.67 ETH which is equivalent to 1.61 million US Dollars (Rp25 billion). This transaction is a continuation of the previous sale which reached 257.1 ETH or around 636,000 US Dollars (Rp9.8 billion), bringing the total ETH collected within 24 hours to 908.77 ETH (approximately 2.24 million US Dollars or Rp34 billion).

Quoted from Beincrypto, according to a report from Lookonchain, the transaction included the sale of 10 billion Moodeng tokens which generated 395.96 ETH (976,000 US Dollars or Rp15 billion) and 200,000 MSTR2100 tokens equivalent to 93.23 ETH (231,000 US Dollars or Rp3.5 billion). In addition, Buterin also sold 500 million E-Bull tokens for 73.79 ETH (182,000 US Dollars or Rp2.8 billion), 15 million Popcat tokens which generated 27.11 ETH (67,000 US Dollars or Rp1 billion), and 20 billion Milo tokens worth 20.75 ETH (51,000 US Dollars or Rp793 million).

Buterin is not the first time using the proceeds from selling memecoins for charity activities. In the last nine days, he managed to collect 1,101 ETH or about 2.78 million US Dollars (Rp43.2 billion) from memecoin sales, and has donated 360.16 ETH (worth 84,000 US Dollars or Rp13.7 billion) to various charitable organizations. This move is in line with Buterin's commitment which has stated that he will continue to contribute the proceeds from memecoins to institutions in need.

In addition, Buterin also gave his appreciation to the memecoin project that contributed to social purposes. On October 7, he suggested that these projects immediately donate or form a decentralized autonomous organization (DAO) to manage donations more transparently.

Memecoin is often seen as a speculative investment with high volatility, but Buterin is trying to prove that they can also be a tool to provide a positive social impact. Its dedication in donating the proceeds from memecoin shows how the crypto community can play a bigger role in philanthropic activities.