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.
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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.
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.
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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.