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HomeCrypto NewsDid Vitalik Buterin Just Send 20M DOGE To The Dogecoin Foundation?

Did Vitalik Buterin Just Send 20M DOGE To The Dogecoin Foundation?


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Vitalik Buterin may have made a 20 million DOGE donation to the Dogecoin foundation.

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Vitalik Buterin donated 20 million DOGE to the Dogecoin foundation on November 2, according to on-chain data shared by @CalisCihan in a tweet yesterday.

Reputable Dogecoin news sharer Mishaboar confirmed the transaction hours later, sharing a link to view the transaction on Dogecoin Explorer.

Notably, @CalisCihan speculates that the Dogecoin foundation may have sold the tokens on the same day as on-chain data shows that the foundation sent the 20 million DOGE to an exchange address hours later. @CalisCohan speculates that the Dogecoin Foundation may have sold the tokens as, at the time, DOGE was enjoying a massive rally thanks to Elon Musk’s Twitter takeover.

It is worth noting that neither the Dogecoin Foundation nor Vitalik Buterin has made any announcements regarding the donation. Meanwhile, @CalisCihan expressed disappointment that the foundation did not return 5 million DOGE collected from the DOGE tip jar last year to cover Dogecoin Foundation expenses. Notably, the tip jar was initially intended to support four Dogecoin core developers.

Both @CalisCihan and Mishaboar have different speculations as to the timing. While @CalisCihan believes there might be a link between the donation and the launch of the long-anticipated DOGE ETH bridge, which Buterin collaborated on, Mishaboar points to the Dogecoin Hackathon as a possible incentive.

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The 20 million DOGE donation worth about $2.9 million on November 2 comes in addition to a donation of about 500 ETH in May by the Ethereum founder. It bears mentioning that Buterin also serves as a blockchain advisor to the foundation.

For clarity, the Dogecoin Foundation is an independent entity that supports the Dogecoin network through advocacy and non-blockchain or core development efforts.

Several users have expressed excitement at the latest development despite the donation’s purpose remaining unclear.

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Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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