Vitalik Buterin sold his holdings of meme crypto

The co-founder of Ethereum began to sell meme crypto assets, which caused a strong reaction from the crypto community. According to Lookonchain, Vitalik Buterin sold 50 billion MOPS for 1.25 ETH (about $2,000), 10 billion CULT for 58 ETH (about $91,000), and 500 trillion SHIK for 380 ETH (about $600,000).

Blockchain security company Peckshield noted that after the sale of these crypto assets by Buterin, the CULT rate fell by 13.7%, and SHIK fell by 95.8%. 164 ETH was raised from Buterin's SHIK address, and 214 ETH was sent to the Ethereum Foundation's address.

vitalik.eth (@VitalikButerin) is selling his free shitcoins.

Currently sold 50B $MOPS for 1.25 $ETH($2K), sold 10B $CULT for 58 $ETH($91K), sold 500T $SHIK for 380 $ETH($600K).https://t.co/SboWZsO8WY pic.twitter.com/xNaRTeVM7K

— Lookonchain (@lookonchain) March 7, 2023

Some members of the cryptocurrency community were disappointed with the actions of one of the creators of Ethereum, since the sale of tokens had a huge impact on their value, and investors suffered losses.

One of the Twitter users considered the businessman's actions strange, because Buterin must be aware of the consequences of his step. There is a version that meme cryptocurrencies, which Buterin got for free, must be declared in tax returns, so he could sell them to reduce tax expenses.

This is not the first time an Ethereum co-founder has been getting rid of his holdings of "dog coins". In 2021, he sold SHIB, AKITA and ELON crypto assets for 15,719 ETH, which he then donated to charity.