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Vitalik Buterin’s Shiba Inu Donations to Power New Round of India Covid Relief Funds
Buterin said the new donation would work toward reducing the long-term impact of coronavirus.
Ethereum co-creator Vitalik Buterin is adding $10 million more to India-focused coronavirus prevention initiative CryptoRelief as part of a new $100 million tranche of donations, he said in a tweet Thursday.
CryptoRelief, led by Polygon co-founder Sandeep Nailwal, will add $90 million in usdc (USDC) to the donation. The entirety of these funds was generated from the sales of shiba inu (SHIB) tokens sent to them by Buterin in early-2021.
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Buterin said the donations will focus on improving indoor air quality to prevent the spread of coronavirus as well as research to inhibit the long-term effects.
Shiba Inu’s creators sent 50% of the token supply to Buterin after issuance in 2020, creating hype for the project. Buterin burned, or permanently destroyed, over $6 billion worth of the tokens in 2021 – representing 90% of the held amount at the time – and donated the remaining tokens, valued at $1.2 billion then.
Coronavirus vaccinations and testing remain an ongoing effort in India, data from official sources show.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
