The co-founder of Ethereum (ETH), Vitalik Buterin, has sold a cluster of dog coins that he had once again received without consent, raking in over USD 1m in the process.
Etherscan transactions reveal that dog coins constitute the majority of the dumped tokens. Among them, Buterin has sold approximately 200trn of shih tzu (SHIH) tokens, around 180trn of dogey-inu (DINU) tokens, around 224trn of kishu inu (KISHU) tokens, around 373trn of baby shiba (BHIBA) tokens, and trillions of other dog coins.
The majority of these coins have steeply lost value following the sell-off. For instance, BHIBA is down by over 70% in the last 24 hours, while SHIH has plunged by more than 50%. Other dog coins are down at least by 10% in a day.
“For anyone making coins (or daos, or whatever else) in the future, PLEASE DO NOT GIVE ME COINS OR POWER IN YOUR PROJECT WITHOUT MY CONSENT!,” Buterin had previously warned.
Meanwhile, this time, he has swapped the basket of dog-themed coins for ETH, curve DAO token (CRV), and fantom (FTM). A look at the transactions reveals that he has made at least ETH 340 (USD 1.3m).
As reported, back in May, creators of the shiba inu (SHIB) token, a so-called “dogecoin (DOGE) killer,” deposited 50% of the coin’s total supply into Buterin’s wallet. However, he used the coins for donating to charities, including a 50trn SHIB donation to India’s Crypto COVID Relief Fund, which resulted in SHIB plunging by over 50%.
Subsequently, Buterin showed mercy to SHIB and declared that he aims to burn 90% of his remaining SHIB, reducing the coins’ total supply. He also included an explanation with the transaction, noting that holding the coins “forever was never an option.”
“For security reasons alone they would have to be moved to a better wallet eventually, and any transaction I make would get interpreted as an action,” he added.
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Learn more:
– Buterin Not Getting Tax Write-Off For SHIB India COVID-19 Relief Donation
– Vitalik Buterin’s Biggest Ethereum Regret is ‘The Whole 8 Cofounders Thing’
– SHIB Nears Top 10, Trading Volumes and Questions Arise
– Dogecoin Wannabes Flood The Market With Pumps & Dumps