David Edwards

Published On: 28/12/2024
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Vitalik Buterin Advocates for Quality Over Quantity in Meme Coin Sector
By Published On: 28/12/2024
Vitalik Buterin

Vitalik Buterin, a co-founder of Ethereum, has donated $300,000 to the Khao Kheow Open Zoo in Thailand in order to adopt Moo Deng, the pygmy hippo that served as the inspiration for the widely popular MOODENG meme coin. The donation will fortify the zoo’s Wildlife Sponsorship program and improve its facilities.

Conservation Meets Cryptophilanthropy

After a personal visit to the zoo, Buterin sent a message posted on X (previously Twitter) expressing his enthusiasm for Khao Kheow’s dedication to animal welfare and community involvement. He commended Thailand’s hospitality to the Ethereum community, particularly during Devcon SEA in Bangkok last November, and lauded Moo Deng’s role as a cultural emblem for Thailand.

Buterin stated, “The zoo’s commitment to conservation is inspiring,” and announced that he would be donating 10 million baht (about $300,000), which would be paid in two installments. A second payment and an extra commitment of 88 ETH designated for future projects followed the first one, which was made on December 26.

From Local Icon to Crypto Phenomenon: Moo Deng

Moo Deng, who was already well-liked in Thailand, became well-known throughout the world as the spokesperson for MOODENG, a meme coin that the cryptocurrency community adopted. The coin recently had a 50.3% increase in trading volume, reaching $179.7 million in daily activity, despite market instability. Even if the currency fell 3.2% during the last day, its 6.1% weekly gain beat the 1.2% drop in the overall market.

Buterin has advocated for tokens to support public causes and has previously criticized the meme coin trend. He famously donated the proceeds of his sale of nearly $1 million worth of meme tokens, including 10 billion MOODENG, to a charitable organization.

A Wider Effect

Buterin’s generosity was praised by Khao Kheow Open Zoo, which referred to him as “Moo Deng’s adoptive father.” Buterin expressed his excitement at the new position by quoting Star Trek, stating, “May they live long and prosper.”

This combination of conservation and cryptocurrency charity shows how blockchain-driven groups may help advance worthwhile causes. The transformation of Moo Deng from a local zoo attraction to a worldwide cryptocurrency icon highlights the relationship between technology, culture, and societal influence.

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