Vitalik Buterin Champions Charitable Meme Coins, Donates $637K to Biotechnology Initiative

Ethereum co-founder Vitalik Buterin recently shared some exciting news on social media. He expressed his support for meme coins that donate part of their supply to charity. He made it clear that any tokens sent to him personally will also go to charitable causes.

In his post, Buterin announced his plan to donate 10 billion MOODENG. This new meme coin, themed around hippos, is built on the Solana blockchain. He aims to support projects focused on fighting airborne diseases. However, he suggested that it might be even more effective for users to send their tokens directly to charity. To enhance community involvement, he proposed creating a decentralized autonomous organization (DAO) to help with decision-making and the donation process.

Buterin stated, “I’ve previously said that the best approach for meme coins is to contribute positively to the world. It’s encouraging to see this happening.”

Earlier today, he exchanged those 10 billion MOODENG, worth about $1.07 million, for 309 ETH. He then donated 260 ETH, which is around $637,000, to the biotechnology charity project Kanro through Cow Protocol.

Buterin has often talked about the potential of meme coins to make a positive impact in the crypto space. He believes that meme coins aimed at supporting public goods, rather than just benefiting their creators, will be the most valuable.

He pointed to charity coins as a great example. These coins either allocate a significant portion of their supply or have ongoing fees to support charitable initiatives. This shows how meme coins can align with positive societal outcomes.

Beyond charity, Buterin also highlighted the importance of developing on-chain games. He believes they can drive positive growth in the cryptocurrency sector. He mentioned organizations like 0xPARC, which supports research and development for Ethereum applications. They are known for creating games like Dark Forest and FrogCrypto, showcasing the positive impact of this approach.