Buterin to Use Returned $100M From SHIB Donation for COVID Projects

Yuvi
Yuvi
2 Min Read

In May 2021, Buterin donated 50 trillion in SHIB tokens (worth about $1.2 billion). The tokens were sent unsolicited to the CryptoRelief fund.

According to a Tweet with the aid of using the fund’s founder Sandeep Nailwal and Buterin, Ethereum founder Vitalik Buterin will receive $a hundred million in USDC from the extra than $1 billion in Shiba Inu. He formerly donated to the India-targeted COVID-19 comfort fund, CryptoRelief.

Buterin had burned the relaxation of the tokens. Buterin stated that he intends to apply the $a hundred million to enhance CryptoRelief’s present exceptional paintings with a few higher-danger higher-praise covid technology and alleviation initiatives worldwide.

“We will return $100 million USDC to Vitalik, a non-Indian, to perform rapid deployment in high-risk/high-reward initiatives,” Nailwal, who is also the co-founder of Polygon, tweeted.

Buterin said on Twitter that the $100 million will be used “to augment CryptoRelief’s existing fantastic work with some higher-risk, higher-reward covid research and relief projects throughout the world.”

“Considering the fund’s international origin and Indian rules, Crypto Relief took a systematic, controlled, and rigorous strategy in disbursing cash mandated for India,” Nailwal tweeted. “However, as an Indian citizen (NRI), I must exercise extra caution in any of the programs to which I donate,” he added.

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Co-founder of Xryptonation.com, Senior Author, Editor, Blockchain Expert.
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