Vitalik Donates Over $1 Billion Cryptos to India
As it’s clearly evident that India is one of the worst-hit countries in the COVID-19’s second wave, many have come forward to assist with whatever they had. While some made donations to state and central government funds, some made it in cryptocurrencies. One such fund is the COVID-Crypto Relief Fund, started by Sandeep Narwal, founder of Polygon. Several crypto enthusiasts soon noticed his fund, as many have made contributions to it. One prominent personality among them is Vitalik Buterin, the co-founder of Ethereum blockchain. A couple of weeks ago, Buterin donated over $600,000 in Maker and Ether coins to COVID-Crypto Relief Fund. And now, he made it again, but on a huge scale.
— Altcoin Alerts (@Altcoin_Alerts) May 12, 2021 According to reports, Buterin sold a chunk of his dog-themed meme coins (Shiba Inu, Akita Inu, and Dogelon Mars) and converted most of them to Ether via Uniswap to aid charities all over the world. The selling spree includes 140 billion AKITA, 660 billion SHIB, and 43 billion ELON tokens, plus the removal of 13,291 wrapped ETH from Uniswap liquidity. This amounted to a total of 15,719 ETH ($63 million). Now, he donated them along with some of his dog-themed meme coins to;
Givewell – 13,292 ETH Methuselah Foundation – 1,000 ETH and 430 billion ELON tokens ($215,000) Machine Intelligence Research Institute – 1,050 ETH COVID-Crypto Relief Fund (India) – 500 ETH plus 10% of his SHIB tokens (50.6 trillion tokens) Gitcoin’s community multisig – 49 trillion AKITA, and Charter Cities – 500 ETH
While his donation cause was genuine, it adversely impacted the concerning coins. At the time of writing, Dogelon Mars was down by 73%, Shiba Inu is down by 30%, and Akita Inu is down by 50%.
