Ethereum co-founder Vitalik Buterin carried out a series of swaps involving memecoins gifted by their creators, receiving 140.6 ETH in return, equivalent to approximately $340,000.

Swapping Memecoins for Ethereum

Vitalik Buterin swapped several memecoins, including 100,000 USDT donated by the CATE project, 70.71 million Neiro, 11.76 billion MOODENG, 7.8 million DEGEN, and 16.03 billion KABOSU. In return, he received about 140.6 ETH.

Background and Previous Actions

These altcoins were initially gifted to Buterin by memecoin creators. Previously, during the popularity of Shiba Inu (SHIB), Buterin donated received SHIB tokens to a hospital in India. In August, he also sent about $10 million worth of ETH to exchange-linked wallets.

Goals and Implications of the Swaps

Buterin has stated that the sales of ETH were not for personal wealth acquisition. Instead, he emphasized that the funds are directed towards philanthropic projects or investment in promising ventures.

Vitalik Buterin's actions highlight his commitment to supporting various projects and initiatives, sparking significant interest in the crypto community.