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Vitalik Buterin Transfers $1 Million in USDC to Biotech Fund Kanro

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by Giorgi Kostiuk

3 months ago


Ethereum co-founder Vitalik Buterin transferred nearly $1 million in USDC to his biotech fund Kanro.

Selling Meme Coins

On January 6, Vitalik Buterin executed a series of swaps to sell meme coins for USDC stablecoins designated for charity donations. The 'vitalik.eth' address sold approximately 28 meme coins, generating $984,000 from the sales.

Impact on the Market

Meme coin developers often send tokens to Buterin’s public wallet as a marketing strategy. However, when Buterin disposes of these tokens to fund philanthropic causes, it often results in significant price declines. For example, DINU dropped 68% after he swapped it for USDC.

Buterin's Charitable Actions

On-chain watchers regularly monitor Buterin’s public address for possible donations. In October, he sold meme coins for $2.24 million in ether. Buterin also donated 10 million Thai Baht (around $290,000) to Khao Kheow Open Zoo.

Buterin continues to use proceeds from meme coins to fund various charitable initiatives through his fund Kanro.

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