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Vitalik Buterin Dumps Altcoins Worth 220 ETH That Have 'No Moral Value'
The Ethereum co-founder said investors would lose "most of the money" they put into the coins.
Updated May 9, 2023, 4:10 a.m. Published Mar 9, 2023, 5:57 p.m.
Vitalik Buterin, a co-founder of the Ethereum blockchain, liquidated a portion of his altcoin holdings this week, saying later that the tokens had "no cultural or moral value."
Buterin sold 9.9 billion CULT tokens, the native token of the CultDAO, for 58 ether (ETH). He also sold his BITE and MOPS holdings, according to blockchain analyst PeckShield. In total, the sales added up to 220 ether, which is worth $332,420 at current prices.
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"BITE and most other coins being discussed on this forum are s**tcoins," Buterin wrote on Reddit. "[They] have no redeeming cultural or moral value, and will probably lose you most of the money you put into them. I anti-endorse these projects to the greatest extent."
In 2021, Buterin prompted a swing in the price of shiba inu (SHIB) tokens when he burned his holdings worth $6 billion after he was effectively given half of the token's supply. He said at the time that he didn't want the power of holding such a significant proportion of the tokens.
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
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