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Vitalik Buterin Sells 275 Trillion CAT Tokens for 14,216 USDC

Ethereum co-founder Vitalik Buterin liquidated gifted CAT and Meme tokens between late October and early November, converting both into USDC, according to Lookonchain blockchain transaction data.

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USDC

Summary

Ethereum co-founder Vitalik Buterin sold two batches of airdropped meme tokens: 275 trillion CAT tokens for 14,216 USDC on October 30, and Meme tokens for 15,170 USDC on November 1. These sales, revealed by blockchain analytics provider Lookonchain, show Buterin’s ongoing conversion of gifted speculative tokens into stablecoins, totaling 29,386 USDC across the two transactions.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin used for digital transactions and trading, providing price stability relative to USD.
  • CAT Token: A cryptocurrency token mentioned in the report, which Vitalik Buterin sold after receiving them for free.
  • Meme Token: A cryptocurrency that often originates from internet culture or themes, generally known for speculative trading rather than fundamental utility.