Vitalik Buterin donates nearly $1m USDC from meme swaps
Ethereum co-founder Vitalik Buterin transferred nearly $1 million in Circle’s USDC stablecoin to his biotech fund donation address, Kanro.
On Jan. 6, Buterin executed a series of swaps to sell meme coins in exchange for USDC (USDC) stablecoin tokens designated for charity donations. The “vitalik.eth” address sold approximately 28 meme coins, generating $984,000 from the sales, according to data.
Meme coin developers often send free tokens to Buterin’s public wallet, either as a marketing strategy or as a tribute to one of blockchain’s most renowned developers and leaders.
Buterin occasionally disposes of these meme tokens to fund philanthropic causes. While unintended, his sales often trigger significant price declines for the tokens involved. For example, DINU, one of the meme coins he sold, dropped 68% in value after he swapped it for USDC.
DINU, one of the meme coins, fell 68% after Buterin swapped for USDC tokens sent to the Kanro address. Kanro is a biotech fund established by Buterin in 2023 and serves as one of many ways the Ethereum co-founder donates.
On-chain watchers often track Buterin’s public address for hints of possible donations, and meme dumps. In October, he sold Popcat (POPCAT) and other meme tokens for about $2.24 million in Ether (ETH).
Buterin also donated 10 million Thai Baht, or approximately $290,000, to Khao Kheow Open Zoo, the guardians of internet famous hippo Moo Deng.
