Ethereum co-founder Vitalik Buterin has recently sold off some popular meme coins from his portfolio, according to the latest on-chain data. Buterin converted tokens like MOODENG and NEIRO to Ethereum (ETH) and donated all proceeds to support the “Free Alexey & Roman” campaign, which aims to assist two Tornado Cash developers currently serving prison sentences.

The blockchain data reveals that Buterin offloaded meme coins such as MOODENG, DEGEN, NEIRO and KOBASU. NEIRO had seen a significant 215% price surge last week amid increased whale activity, and is up an impressive 1685% over the past month.

MOODENG has also been a top performer recently, trading around $0.15 currently after reaching as high as $0.35 in September during a major bull run. One MOODENG trader reportedly made $12.4 million in profits in just 17 days from a $1.3K investment. The Solana-based meme coin is still showing 350% monthly gains.

According to on-chain analytics provider SpotonChain, Buterin swapped his substantial meme coin holdings for a total of 140.7 ETH. He then donated 100 ETH (worth approximately $242,000) to the campaign supporting Tornado Cash developers Alexey Pertsev and Roman Storm.

The developers are facing legal action for their roles in creating the privacy-focused cryptocurrency mixer. Their trial in the New York District Court is scheduled for December.

A recent report from security firm Certik indicates that hackers have been using Tornado Cash for several high-profile money laundering cases in Q3 2023. While designed to enhance user privacy on Ethereum, the mixer has become a popular tool for cybercriminals.

However, crypto industry figures like Buterin have advocated for the legitimate use of privacy tools for asset management. This isn’t the first time Buterin has supported the “Free Alexey & Roman” campaign, having previously donated over $100,000 in May.

The Ethereum co-founder’s actions highlight the ongoing debate around privacy tools in crypto and support for developers facing legal challenges in the space.