Vitalik Buterin sells meme coins amidst efforts to promote integrity in the blockchain sector

Lookonchain data shows Vitalik Buterin, a computer programmer and Ethereum co-founder, sold some meme tokens for 22.89 $ETH today.

He then donated 320 $ETH, worth approximately $1.07 million, to Coin Center.

Coin Center is a Washington D.C.-based crypto policy advocacy institute.

Buterin’s transaction showcases his outlook on themed cryptocurrencies and dedication to digital assets education.

Meanwhile, his actions come after Binance’s former CEO CZ attacked meme assets, calling them “a little weird.”

Buterin dumps meme coins for ETH

The Ethereum co-founder converted some meme tokens to Ethereum on 27 September, receiving ETH worth around $76.5K (22.89 tokens).

Meanwhile, data from Arkham Intelligence shows Buterin received the meme cryptocurrencies for free.

After the conversion, he donated ETH worth $1.07 million (320 ETH) to Coin Center.

Coin Center is a non-profit advocacy institute for crypto policy.

Buterin’s actions reflect his commitment to promoting integrity within the blockchain industry.

About Coin Center

The Washington D.C advocacy group safeguards individual rights to navigate blockchain platforms like Bitcoin.

It attains its objectives by conducting policy research, encouraging balanced legislation, and educating lawmakers.

In a recent research, the group warned that entrenched policies might still discourage crypto investors in the US despite Trump’s election victory.

In the blog post, Coin Center highlighted threats to crypto developers and users in the United States.

The “surveillance issues” include the ongoing legal proceedings involving Samourai Wallet and Tornado Cash, Anti0Money Laundering policy, and tax reporting. Van Valkenburgh added:

The last few years have been replete with grave threats to the freedoms of individual cryptocurrency users and developers.

We have watched an overzealous SEC venture closer and closer to directly regulating individual developers and users in their exchange redefinition rulemaking, and their enforcement actions against wallet providers like Consensy’s MetaMask and Coinbase Wallet.

Buterin’s latest donation will likely strengthen Coin Center’s efforts to promote decentralized innovation while ensuring balanced regulation.

Meme coins’ landscape

While the latest narratives indicate faded optimism in themed tokens, the sector remained steady.

The market capitalization of all memes increased by 1.2% in the past day to $122 billion, according to CoinGecko data.

Moreover, the over $25 billion in daily trading volume signals massive trader activity.

PEPE lost 2% over the past day to $0.00001825 after a massive whale sell-off.

Meanwhile, Just a Chill Guy (+35%), MAD (+15%(, and Choq Inu (+9%) led meme token gainers in the last 24 hours.

Meanwhile, the broad market attempts recoveries after Bitcoin’s latest dip towards $90K.

The top crypto by market cap trades at $93,340, up 0.13% on its daily chart.

Meanwhile, analysts expect an altcoin season, a phase where alts outshine BTC with significant surges, early in 2025.

Enthusiasts will possibly watch whether meme tokens will lead the impending altcoin season, as usual, or whether the emerging negativity by industry leaders will brew dynamic changes.

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