Vitalik Buterin. (picture Credit: Twitter/ @Dogecoinrise)
According to a report in Forbes, Buterin donated 50 trillion SHIB tokens price $1.2 billion (roughly Rs 8,800 crores) on May 12, 16:37 pm ET to the India Covid Relief Fund in a single transaction.
Popular cryptocurrency Ethereum’s co-founder Vitalik Buterin has donated over $1 billion (roughly Rs 7,358 crores) in cryptocurrency to the India COVID Relief Fund and a variety of different charities, a report in Forbes mentioned at this time. Buterin made the donation by offloading huge quantities of dog-themed meme tokens, which had been gifted to him by the creators of the Shiba Inu coin, Dogelon, and Akita Inu. These cryptocurrencies have shot up in worth since Dogecoin’s rally that got here in the previous couple of months. Buterin’s donation comes quickly after he turned the world’s youngest cryptocurrency billionaire lower than two weeks in the past.
According to the report in Forbes, Buterin donated 50 trillion SHIB tokens price $1.2 billion (roughly Rs 8,800 crores) on May 12, 16:37 pm ET to the India Covid Relief Fund in a single transaction. The COVID Relief Fund has been arrange by Indian tech entrepreneur Sandeep Nailwal, who can be the co-founder and COO of Polygon. Earlier, in April, Buterin donated about $600,000 (roughly Rs 4.41 crores) in ether and maker tokens to the India COVID Relief Fund. Nailwal took to Twitter to thank Buterin. He mentioned that the funds shall be spent responsibly. “We is not going to do something which hurts any group specifically the retail group concerned with SHIB,” Nailwal mentioned.
The Forbes report also points out that the Shiba Inu tokens were given to Buterin on the premise that he would never sell them. Developers of the Shiba Inu token have reportedly sent 50 percent of the SHIB token supply to Buterin’s wallet over the past year. The coin’s website also states that 50 percent of the total tokens have been permanently removed from circulation, or at least that’s what the developers presumably envisioned.
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