Wednesday, November 30, 2022
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.

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.

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.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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