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Vitalik Buterin Donates $1.1 Billion to India’s Covid Relief Fund

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Vitalik Buterin, co-founder of the Ethereum ecosystem, just donated US$1.1 billion worth of the Shiba Token ($SHIB) sent to him by the token’s developers.


According to transaction details from Etherscan , the transaction involved a transfer of 50.6 trillion units of $SHIB. An hour before this transpired, Vitalik Buterin removed liquidity of the Shiba Token from Uniswap’s V2, and transferred it to Uniswap V3.

Ryoshi, one of the core developers of the SHIBA INU dog meme token, indirectly thanked Vitalik Buterin for transferring the liquidity of $SHIB to Uniswap V3. “Thank you to the woofmeister for enabling true decentralization. Now we truly begin.” the developer tweeted. The response from Shiba Token’s core developer is a hint at the imminent launch of Shiba Token’s swapping platform, SHIBASWAP.

Meanwhile, India’s Crypto Covid Relief Fund issued a statement in gratitude to Vitalik Buterin.

“We thank @VitalikButerin for his donation of 50,693,552,078,053 SHIBA to @CryptoRelief_ . We plan to do a thoughtful liquidation to ensure we meet our COVID relief goals. We have decided to convert the donation slowly over a period of time,” the organization tweeted.

The community-run volunteer organization was established by Sandeep Nailwal, co-founder and COO at Polygon (formerly MATIC Network). Buterin first donated to the organization in a response to Nailwal’s call for action from the global crypto community in April 24.

The Ethereum co-founder’s first donation amounted to $400,000 on the day of transfer. The donation was made with Maker ($MKR), and is now worth over $538,000 according to Etherscan estimates.

“One thing we have learnt from Ethereum and @VitalikButerin is importance of community. We will not do anything which hurts any community specially the retail community involved with $SHIB. We will act responsibly! Plz dont worry $SHIB holders.” Nailwal said in a tweet thanking Buterin.

India’s Crypto Covid Relief Fund mission is to “reduce suffering by providing healthcare and essentials to those fighting for survival against Covid” and also runs a grant for the distribution of oxygen concentrators for Indians who lack access to oxygen supplies.

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