Preheat oven to 350 degrees. Line two muffin pan with liners.
Drain the maraschino cherries and reserve the juice for later. Dice the cherries into small pieces.
In the bowl of a stand mixer, beat the butter and sugar together on medium-high speed until it is light and fluffy, about 3-5 minutes. Add the egg whites one at a time, beating in between.
Add vanilla and almond extracts and stir until combined.
In a medium bowl, whisk together the flour, baking soda, baking powder and salt.
In a small bowl, combine the buttermilk and the cherry juice.
Add 1/3 of the flour mix to the mixing bowl and mix until combined. Add 1/2 of the buttermilk-cherry juice and mix until combined. Then add the other 1/3 of flour, then other half of buttermilk and ending with the last third of the flour. Mix after each addition.
Remove bowl from stand and stir in the chopped cherry pieces by hand.
Pour batter into prepared muffin tins, filling about 2/3 full. Bake for 12-15 minutes until the cake is done and an inserted toothpick comes out clean.
Let the cupcakes cool in the pan for about 5 minutes before removing. Move them to a cooling rack to cool completely.
Buttercream:
Add softened butter to the bowl of a mixing stand. Beat the butter until light and fluffy, about 5 minutes. Add the cherry juice, vanilla and almond extract and pinch of salt.
Add the confectioner’s sugar one cup at a time, mixing between each addition until you reach your desired consistency. Should be about 4 cups.
Add the optional dye if you would like a more “cherry” colored icing.
Pipe buttercream onto cooled cupcakes and top with sprinkles (I used a pink-red-white combo sprinkle) and a maraschino cherry.
