Vitalik Buterin made one of the most exemplary donations in history!
Ethereum’s co-founder Vitalik Buterin sent over $1 billion worth of Shiba Inu tokens to a charity that funds India’s ongoing COVID battle.
Then, he sent additional ‘petcoins’ and ‘memecoins’ to other charities.
Shiba is a coin that reached a $12 billion market cap early this month. Buterin received 50% of the coin’s entire supply back in 2020 as a means of ‘burning’ the tokens.
And until today, Buterin held on. However, he didn’t choose to sell his coins like a banker. He instead donated to India’s COVID charity, making it one of the biggest COVID donations from a single person.
The country is now facing one of the worst COVID crises on Earth. With more than 3 million new cases reported per day on average.
There has been a shortage of oxygen tanks, hospital beds and even money. Oxygen tanks have been a political tug-of-war with the members of the ruling party hoarding up supplies only for themselves.
Some crypto leaders stepped in to help. Just last week, Sandeep Nailwal launched the ‘Covid relief campaign’ to help the underprivileged in the country with the use of crypto donations.
Prior to this recent donation, Buterin also donated $640,000 worth of Ethereum and Maker to the relief fund to combat the coronavirus situation in India.
What is Shiba Inu?
SHIB is placed as a “decentralized meme token” that has locked 50% of the total supply to Uniswap. The project launches its own decentralized exchange named ‘Shibaswap’ after the audits are completed and would even have an art lineup for the coming months.
Shiba also has enough care to ensure that the team don’t dump on holders.
“The remaining 50% was burned to Vitalik Buterin and we were the first project following this path, so everyone has to buy on the open market, ensuring a fair and complete distribution where devs don’t own team tokens they can dump on the community,” the site elaborates.
Now SHIB is down by 40%. And additionally, Buterin dumped more than $500,000 of Akita Inu (AKITA), another petcoin that sent 50% of its supply to the Ethereum creator. But now, all are observing the COVID donation.
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