Vitalik Buterin, a prominent figure in the Ethereum community, has taken action by selling various meme coins and donating the earnings to support the legal defense of Tornado Cash developers. Recent data reveals that Buterin transformed coins such as MOODENG and NEIRO into Ethereum, funneling the proceeds into the “Free Alexey & Roman” initiative.
How Much Did Buterin Earn from Meme Coins?
By selling popular meme coins like MOODENG, DEGEN, and KOBASU, Buterin amassed a total of 140.7 Ether. Notably, the price of NEIRO surged by 215% in the past week, while MOODENG experienced a staggering increase of 1685% this month, yielding considerable profits for its investors.
Why Is Tornado Cash Significant?
Tornado Cash functions as a cryptocurrency mixer, enabling users to anonymize transactions on the Ethereum blockchain. A recent report highlighted that approximately $287 million in stolen funds was laundered through Tornado Cash in the last quarter, raising alarms about its misuse by cybercriminals.
Buterin’s commitment to advocating for the Tornado Cash developers facing legal challenges underscores his stance on privacy in cryptocurrency. He previously contributed over $100,000 to similar causes, drawing attention to the ongoing legal battles that the developers face, with a lawsuit anticipated in December.
The discussions surrounding Buterin’s donations reveal several key points:
- Buterin raised significant funds through meme coin sales.
- His actions support the legal defense of Tornado Cash developers.
- The controversy highlights ongoing debates about privacy tools in cryptocurrency.
Buterin’s financial support for the Tornado Cash developers has reignited vital conversations on privacy and legality within the cryptocurrency sector. His influence continues to shape the narrative around these pressing issues, suggesting that the role of privacy tools might remain critical in the evolving cryptocurrency landscape.