Ethereum co-founder Vitalik Buterin continues his long-standing practice of liquidating memecoins and low-cap tokens that various projects send to his public wallet without his consent. The latest transactions follow a familiar pattern.
According to data from blockchain analytics firm Arkham Intelligence, Buterin swapped several small-cap tokens for a total of 9.4 ETH roughly two hours before publication. At current market prices, the proceeds are worth approximately $29,400.
The transactions were executed via decentralized exchange aggregators and bridges, including LiFi Diamond, Socket Gateway, Across Protocol, and Bungee, infrastructure that Buterin has repeatedly used in previous sell-offs of unsolicited airdropped tokens.
OP, DEGEN, CHIB and More: Another Round of Memecoin Swaps
A closer look at the conversions shows that Buterin:
swapped 7,528 OP tokens for ether via Bungee Exchange
exchanged 4.508 million DEGEN tokens for ETH
separately swapped 23.988 million CHIB tokens through Socket Gateway and PullSplit
Arkham data also shows several smaller ETH-denominated swaps routed through LiFi and Bungee, totaling 0.668, 0.762, 0.837, 1.927, and 0.739 ETH.
One of the largest single conversions occurred via Across Protocol, where Buterin received 4.496 ETH from the sale of a pooled token position. Additional ETH swaps involved WOOLLY and IZZY, with 13.628 million IZZY tokens converted through LiFi.
At the time of the swaps, Ethereum was trading slightly above $3,136, according to market data. The ETH received was subsequently transferred to addresses widely believed to be controlled by Buterin, further increasing his already substantial ether holdings.
“I Don’t See Any Moral Value in Them”
Buterin has a well-documented history of selling tokens sent to him without request, and he has repeatedly stated that he “does not see any moral value” in holding such assets. He has also criticized projects for using his wallet address as a form of promotion.
In October last year, for example, Buterin sold 275 trillion CatCoin tokens for 14,216 USDC, roughly $14,200. As with the latest activity, he did not publicly explain the reason for the sale, and it is widely assumed that the proceeds were donated to charity.
Buterin rarely announces these sales in advance and generally avoids providing detailed commentary. However, he has been explicit about his preference that projects donate directly to charitable causes rather than sending tokens to his wallet.
“Many projects have decided to send me a large portion of their supply,” Buterin wrote on X last year. “Everything sent to me is also donated to charity—though I strongly prefer that you donate to charity directly.”
Sales Generating Hundreds of Thousands — and Millions — of Dollars
In January, Arkham, citing Lookonchain data, reported that Buterin sold additional memecoins he had received for free, including 340 billion DOG tokens, for 5.2 ETH. The total proceeds from that round amounted to roughly $139,000.
Even larger transactions took place around October 10, when Buterin sold tokens worth 1,101 ETH, valued at approximately $2.78 million at the time. That batch included:
10 billion MOODENG tokens
200,000 MSTR tokens
500 million EBULL tokens
Those sales generated 395.95 ETH, 93.23 ETH, and 73.79 ETH, respectively. From those proceeds, Buterin donated 360.16 ETH, worth about $884,000, to an undisclosed charitable organization.
“I appreciate memecoins that donate a portion of their supply directly to charity,” Buterin said at the time. “Everything sent to me is also donated. Today’s 10 billion will go toward technology to fight airborne diseases.”
Buterin’s On-Chain Holdings Exceed $760 Million
According to Arkham’s dashboard, Buterin’s on-chain portfolio is valued at more than $763 million. The vast majority consists of approximately 240,000 ETH, worth about $752 million at current prices.
Smaller positions include wrapped ether variants and a variety of tokens accumulated over time, such as WHITE, MOODENG, KNC, TRUE, REPv2, and THE. Some of these assets have declined recently, contributing to a portfolio decrease of just over $7 million in the past seven days and more than $30 million over the past month.
Ethereum Holds Above Key Support
Despite the activity in Buterin’s wallet, Ethereum continues to show signs of a bullish trend. ETH posted a modest 0.8% gain and remains above the $3,090 level, suggesting that these memecoin liquidations have not created meaningful selling pressure on the broader market.
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