Vitalik Buterin donates Shiba Inu to support India Covid relief.

Ethereum co-creator Vitalik Buterin announced on Thursday via Twitter that he is contributing an additional $10 million to CryptoRelief, an initiative focused on preventing the spread of coronavirus in India. This donation is part of a $100 million tranche of donations. Polygon co-founder Sandeep Nailwal leads CryptoRelief, which will add $90 million in USDC to the donation. The funds were generated from the sales of Shiba Inu (SHIB) tokens, which were sent to CryptoRelief by Buterin in early 2021.

Buterin stated that the donations will be used to improve indoor air quality to prevent the spread of coronavirus, as well as to conduct research aimed at inhibiting long-term effects. In 2020, 50% of the Shiba Inu token supply was sent to Buterin after issuance, generating hype for the project. In 2021, Buterin permanently destroyed over $6 billion worth of the tokens, which represented 90% of the held amount at the time. He then donated the remaining tokens, which were valued at $1.2 billion at the time.

According to official sources, coronavirus vaccinations and testing are still ongoing efforts in India.

Edited by Parikshit Mishra.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

DeFi

EigenLayer reached max limit on restaking smart contracts on the same day as mainnet launch, raising $16M.

According to Nansen, some significant contributors to EigenLayer's pools include an address that utilized the U.S.-sa...

DeFi

Balancer depositors withdraw almost $100M in cryptocurrency following vulnerability warning.

People are withdrawing rapidly, stated the pseudonymous contributor Xeonus in an upbeat manner.

DeFi

Tether lost its peg, resulting in a large sell-off of USDT on Curve and Uniswap, leading to a suggestion to switch to other stablecoins.

Tether's stablecoin is no longer worth one US dollar, as two major pools used for trading stablecoins in decentralize...

DeFi

Sam Bankman-Fried's inner circle to testify today.

Sam Bankman-Fried's esteemed inner circle set to testify today.

DeFi

Ethereum ICO participant transfers $116M ETH after 8 years of dormancy

Ether achieved modest gains in the past 24 hours, in line with the positive momentum of the overall market.

DeFi

Abracadabra.money Stablecoin Suffers Flash Crash: What You Need to Know 💥💸

Certrik proposes that the exploit may be attributed to a minor rounding error, which presents an important opportunit...