Krutika Adani
Vitalik Buterin has sold 11.76 billion MOODENG, 7.8 million DEGEN, 70.7 million NEIRO, and 16.3 billion KOBASU that he got from the project. The Ethereum top chief also sold 100k USDT gifted to him by the CATE project.
All of the proceeds from the sale of the five tokens(including USDT) would go to charity. However, it is still unknown which charity or fund will receive the proceeds.
Vitalik did the same thing when he was allotted 410 trillion Shiba Inu. At that time, Vitalik donated the entire proceeds to India’s disaster relief fund.
Amid a drop in Ethereum’s price, Vitalik has further sold 649 ETH, making Ethereum users question the motive of such sales.
ETH might continue to remain suppressed in the near future as few ETH ETFs and Buterin continue to sell the top altcoin.