Vitalik Buterin gives away all his memecoins to animal charity

Ethereum creator Vitalik Buterin decided he had enough of the animal-themed meme coins cluttering up his wallet. So he got rid of them in one clean sweep by donating the whole pile to an animal welfare charity.

As you can see in the screenshot below, Vitalik sent 200 ETH, worth about $532,398, to the Effective Altruism Funds’ Animal Welfare Fund.

He also told the world that:

“Charity donation done, covering all animal coins from the past year or so! That said, I appreciate it if coin holdings just get allocated to the charities directly. It’s 2024, we can start doing more sophisticated public goods fun-ding.”

Vitalik has long said that he is tired of the endless stream of meme coins popping up without offering anything meaningful to the industry.

Meme coins are back – What happened to meme coins?

Meme coins have been a part of the crypto world for years, starting with Dogecoin back in 2015. Fast forward to 2024, and they made an insane comeback, but they’re causing more annoyance than amusement.

The latest batch of meme coins, especially some on Solana, has stirred controversy for being openly racist.

Vitalik pointed out to us that even the ones that aren’t offensive are just as bad. He’s not alone in his frustration. Many in the community, like Ethereum philosopher Polynya, are fed up with the way meme coins are dominating the conversation without contributing anything substantial.

By converting his meme coins into a charitable donation, Vitalik is putting his money where his mouth is, literally.

The charity coin angle: More than just a gimmick?

There have been a few attempts in the past to tie cryptocurrencies to charitable causes, but they haven’t exactly taken off. They either faded away or got bogged down by problematic communities.

Vitalik said the one standout case was when he gifted a large chunk of Dogelon Mars tokens to the Methuselah Foundation, which led to a surprisingly positive outcome, turning ELON into a kind of charity coin by default.

Vitalik sees potential in creating something more sustainable and impactful, beyond just a quick donation. He’s been exploring the idea of “Robin Hood games” in the crypto space—games that aren’t just fun but also support public goods.

These games would allow players to vote on which charities should receive the funds, making the process more community-driven and democratic.

Vitalik argues that people are drawn to meme coins for three reasons: potential profit, a sense of community, and the fun factor.

But instead of more of the same, he’s advocating for the creation of games that not only entertain but also make a positive impact, particularly for lower-income players.