Vitalik Buterin: I Bought $25,000 worth of Dogecoin in 2016 and Sold For $4.3 Million in Late 2020
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Vitalik Buterin, the co-founder of Ethereum (ETH), who became the youngest billionaire in the crypto industry following ETH parabolic price surge, has donated over $1 billion in crypto to the India Covid Relief Fund and a number of other charities.

Buterin made the donation by dumping massive amounts of new meme tokens patterned after Dogecoin, which he was gifted by the founders of Shiba Inu coin (SHIB), Dogelon (ELON), Akita Inu (AKITA), mwDOGE (mwDOGE), and OURSHIB (OSHIB).

Read Also: Vitalik Buterin Shows How 51% Attack of Miners Could Send Network to Ethereum 2.0 Faster Than Expected

The aforementioned cryptocurrencies took off following the massive rally of Dogecoin (DOGE) in the last few months. Although these tokens were built around similar memes such as Dogecoin, they have larger supplies.

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Vitalik Buterin Donates 50 Trillion SHIB Tokens

In a single transaction, Ethereum co-creator donated 50 trillion SHIB tokens worth $1.2 billion on 12th May at 16:37 pm E.T. to the India Covid Relief Fund organized by Indian tech entrepreneur Sandeep Nailwal, who is known as the co-founder and COO of Polygon, an Ethereum scaling solution.

Back in April 2021, Buterin donated relatively $600,000 in ETH and Maker (MKR) to the same fund.

Read Also: Ethereum (ETH) Hits $3,000 All-Time High for the First Time in History

Sandeep Nailwa has reacted to the new development via his Twitter handle. In the tweet, he appreciated Buterin for the donation and assured SHIB investors that the funds will be spent accordingly.

Sandeep Nailwa tweeted, “Thanks Vitalik Buterin. One thing we have learnt from Ethereum and Vitalik Buterin is importance of community. We will not do anything which hurts any community specially the retail community involved with SHIB We will act responsibly! Plz dont worry SHIB holders.”

Other Donations Made By Vitalik Buterin

Aside from the aforementioned donation, Buterin also sent about $441 million worth of AKITA to Gitcoin, an open-source bounties platform on the Ethereum blockchain.

Read Also: Someone Just Paid $38,500 worth of ETH on Ethereum Network in a Single Transaction

He also donated to GiveWell, a non-profit charity evaluator, Methuselah Foundation, which specializes in extending the human lifespan, and Machine Intelligence Research Institute that focuses on developing safe artificial intelligence (AI) technologies.

Developers of Shiba Token sent 50% of the SHIB token supply to Vitalik Buterin’s wallet over the past year. According to the information on Shiba’s official website, 50% of the total supply has been burned to Vitalik Buterin, which implies that the tokens are no longer in circulation.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.