By Solomon Odunayo
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).
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.
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.”
Thanks @VitalikButerin
One thing we have learnt from Ethereum and @VitalikButerin 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. https://t.co/M4GxTR0JAn
— Sandeep – Polygon(prev Matic Network) (@sandeepnailwal) May 12, 2021
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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