- Buterin begged people to cease sending him cryptocurrency while liquidating a vast collection of meme tokens with animal themes to support animal welfare.
Once more, Vitalik Buterin has made excellent use of the trillions of cryptocurrency tokens that people regularly send him—this time, by using them to save needy animals.
The co-founder of Ethereum gave $532,000 in ETH to the Animal Welfare Fund of the Effective Altruism Fund on Wednesday. He claims the cryptocurrency originated from selling all of the animal coins—memes with animal themes based on Ethereum—that cryptocurrency enthusiasts had sent him during the previous year.
Meme coins frequently have animals as their main motif, such as dogs, cats, ducks, and so forth. Many of these tokens, despite his will, have found their way into Buterin’s Ethereum wallet.
For many years, cryptocurrency users have transferred tokens—often in little amounts, but occasionally in large ones—to the wallets of significant industry players like Buterin. Given Buterin’s esteemed reputation as one of the pioneers of the cryptocurrency industry, the unsolicited donations may resemble tithing.
They can also be used to lend legitimacy to a project by making Buterin retain a sizeable portion of its token supply, regardless of his desire to do so.
The unidentified creators of the well-known Ethereum meme coin Shiba Inu transferred half of its total supply, or around $7 billion worth of SHIB, to Buterin’s Ethereum wallet in 2021. Afterwards, Buterin torched the remaining $1 billion, stating at the time that he didn’t “want to be a locus of power of that kind.” He later gave a portion of that money, $1 billion, to support Covid relief efforts in India.
The Ethereum creator is well known for not being fond of people mailing him unsolicited cryptocurrency. This week, he reaffirmed his earlier statement, saying that although he was pleased to contribute money to worthy causes, he would prefer it if currency holdings were simply distributed to the charity directly.
However, Buterin included a link to a blog post he authored back in March, in which he begged the cryptocurrency community to begin creating meme coins for more useful and helpful uses, such as charity fundraising.
The creator of crypto has long been an outspoken opponent of meme currencies’ main use in the industry, viewing them as frequently obscene or sinister platforms for unrestrained speculation.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
