Ethereum co-founder Vitalik Buterin donates $ 1 billion worth of meme coins to India’s COVID relief fund
The founder of the crypto company Ethereum, Vitalik Buterin, has donated coins worth $ 1 billion to the Indian COVID crypto relief fund.
The transaction panicked some investors, causing the price of Shiba Inu to fall more than 35% in the past 24 hours – although the price has since recovered in part, according to Tracker Nomics.
Vitalik has also donated to the COVID Relief Fund in the form of Etheru, its own cryptocurrency. India is currently being hard hit by the second wave of the coronavirus pandemic.
According to reports, Buterin has donated around 500 ETH and over 50 trillion SHIB (Shiba Inu) worth $ 1.14 billion to the Indian COVID relief fund launched by Indian tech entrepreneur Sandeep Nailwal.
Nailwal thanked Vitalik for the donation on Twitter.
He wrote, “Thank you @VitalikButerin One thing we have learned from Ethereum and @VitalikButerin is the importance of community. We’re not going to do anything that harms a community, especially the retail community. We will act responsibly! “India has already received donations worth US $ 6 million in 10 different cryptocurrencies. However, cryptocurrencies are still not legalized in the country.
Buterin, who became the youngest crypto billionaire this month at age 27, also donated Ethereum and Dogelon Mars (ELON) – another meme coin – worth $ 336 million to the Methusalah Foundation.
The foundation is a non-profit organization that promotes efforts in tissue engineering and regenerative medicine therapies.
Buterin donated over 13,000 ETH to Givewell, a nonprofit that works to curate the best charities around the world.
Buterin also donated to the Gitcoin Community, MIRI, and the Charter Cities Institute.
Former Australian cricketer Brett Lee also made a donation in the form of cryptocurrencies. He donated a bitcoin worth Rs 45 lakh to help India buy oxygen for hospitals across the country.
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