Bitcoin News and Finance
Vitalik Buterin and Balaji Srinivasan Donate to Indian Covid Relief Fund Despite Country’s Intentions to Ban Cryptos Skip to main content

Vitalik Buterin and Balaji Srinivasan Donate to Indian Covid Relief Fund Despite Country’s Intentions to Ban Cryptos

Vitalik Buterin and Balaji Srinivasan Donate to Indian Covid Relief Fund Despite Country's Intentions to Ban Cryptos

The covid-19 crisis is worsening every day in India, as the country keeps hitting record daily numbers of cases and its death toll. The crypto community is starting to show solidarity with the country, as big players such as Ethereum co-founder and a well-known investor announced crypto donations to provide support.

Buterin Also Contributed With Makerdao Funds

Indian tech founder Sandeep Nailwal – founder of the Ethereum scaling platform Polygon – set up a fund to help with the crisis, and Vitalik Buterin and Balaji Srinivasan publicly announced their donations.

On April 24 via Twitter, Nailwal revealed the campaign he launched to deal with the devastated country by the pandemic, calling off especially for help to the crypto community:

Can’t take this sitting down anymore, I am going to run a Covid relief campaign in lieu of what’s going on in India. Need help from the Global crypto community. I will take full responsibility for transparency, funds usage, and regulatory compliance.

On the same day, Buterin thanked Polygon’s founder for the campaign and published on his Twitter profile proof of his contribution of 100 ethereum (ETH) and 100 maker (MKR), both worth over $600,000 as of press time.

Srinivasan, a former executive of the now-publicly listed crypto company Coinbase, donated 21.74 ETH worth $54,224.66 according to markets.Bitcoin.com data. Moreover, he announced that for every RT of his public appeal to contribute to the fund, he’d donate amounts starting from $50 to up to $100,000 “to fight COVID in India.”

Could the Crypto Donations Be Blocked at Some Point by the Indian Government?

Although this philanthropic initiative is well-received in the midst of tough times that India is living in nowadays, there could be issues on the road for crypto donations, specifically in regulatory affairs.

As Bitcoin.com News has been covering in the last few months, India is set to propose a law banning cryptocurrencies, “fining anyone trading in the country or even holding such digital assets.”

But also, the proposal could be stricter than expected, as the government is also reportedly considering the blocking of IP addresses of crypto companies and exchanges “on which trading in cryptocurrencies is happening.”

What are your thoughts on the crypto donations to help India? Let us know in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory