One of the billionaires, Ethereum Co-founder Vitalik Buterian has donated $1 Billion and more that is approximately 7358 crores in cryptocurrency to the Indian covid relief fund and some other charities started by the recent report.
Vitalik initiated the donations by offloading massive amounts of dog-themed meme tokens which were gifted to him by the creators of the Shibu Inu coin, Dogelon, and Akita In. These currencies have shot up in value since Dogecoin’s rally that came in the last few months.
The sources suggest that the founder’s donation comes soon after he became one of the world’s youngest cryptocurrency billionaires. And this happened surprisingly less than two weeks ago.
Coming to the figures, the reports say that he donated 50 trillion ship tokens worth 1.2 billion dollars that is approximately eight thousand eight hundred crores on 12th May 2021. The covid-19 relief fund’s monitoring has been set up by Indian tech entrepreneur Sandeep Nailwal who is also the co-founder and COO of Polygon.
Not only this in April 2021 he donated about $600,000 which is 4.41 crores ether and maker tokens to India to fight the covid surge. The entrepreneur stated by the tweet that the funds will be spent responsibly and we will not do anything which hurts any community especially the retail community involved with SHIB.
Who is Vitalik Butlerian?
He is a Russian Canadian co-founder of Ethereum and one of the best-known forms of cryptocurrency. He is the youngest billionaire of age 27-year-old and one of the most recognizable people in the crypto industry having been involved in crypto from as early as 2011.
In case you are wondering what Shiba Inu Coin is?
It is named after a Japanese dog that was started as a rival to the dogecoin itself, the Dogecoin based on the dog who is in all the memes. Asin celebrities tweeting about Dogecoin price shot up, and here’s the rival Shiba Inu Coin.
These coins were created as a joke that is a sort of meme but with broad usage because of its volatile nature of cryptocurrencies have taken off. But unfortunately, the coin’s price fell around 40%. So while India may still get a sizable donation it is likely to be for less than a billion dollars.