Vitalik Buterin Just “Anti-Endorsed” These Altcoins
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March 12, 2023 1:39 pm
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Co-founder of Ethereum Vitalik Buterin liquidated a massive portion of his altcoin holdings last week.
Buterin took to Reddit and stated he sold CULT, BITE, and MOPS.
On Reddit Buterin stated “BITE and most other coins being discussed on this forum are s**tcoins”
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He would continue “[They] have no redeeming cultural or moral value, and will probably lose you most of the money you put into them.”
He would conclude by saying he “anti-endorse” these projects.
.@ethereum founder @VitalikButerin sold 220 ETH worth of altcoins this week, a move that he explained by saying the tokens had no "cultural or moral value."
Reporting by @oknighcryptohttps://t.co/Ktnyr6TJ0R
— CoinDesk (@CoinDesk) March 9, 2023
Yahoo Finance reported these details:
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.
“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.
Vitalik Buterin nets over 220 ETH dumping altcoins Like CULT, MOPS, SHIK and more.
— whalechart 🐳 (@WhaleChart) March 7, 2023
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