Bitcoin News and Finance
Vitalik Buterin Donates $1B Worth of Shiba Inu Tokens to India’s Crypto Covid Relief Fund Skip to main content

Vitalik Buterin Donates $1B Worth of Shiba Inu Tokens to India’s Crypto Covid Relief Fund

shiba inu

On Wednesday, Ethereum’s Vitalik Buterin took control of his stack of Shiba Inu, a dogecoin ERC20 token, and donated more than 1 billion dollars worth of the currency to India’s Crypto Covid Relief Fund. The fund is an initiative that seeks to help people suffering from the covid-19 outbreak that India is experiencing right now. Buterin also sold Akita and Dogelon, other similar currencies, causing a slide in market prices.

Vitalik Buterin Donates $1 Billion Worth of Shiba Inu Tokens to India’s Crypto Covid Relief Fund

Vitalik Buterin, the popular founder of Ethereum, started selling some of the meme coins that were sent to him by some projects, donating 10% of his Shiba Inu stack to India’s Crypto Covid Relief Fund. These dogecoin ERC20 tokens were given to him to “burn” them, under the assumption he wouldn’t touch them or sell them. However, against all popular belief, Buterin decided to put these funds to good use.

The transaction of Shiba Inu tokens worth more than a billion dollars today to the aforementioned Covid Fund, which was founded by Sandeep Nailwal, co-founder of Polygon, a second layer protocol for Ethereum. However, this is not the first donation Buterin makes to this particular fund. Five days ago, Buterin also donated three million dollars in dogecoin (DOGE) to this same charity.

This is one of the biggest donations made by any cryptocurrency personality to help people affected by the Covid-19 pandemic, dwarfing the donations of Justin Sun and Balaji Srinivasan who also contributed to the cause.

But not all were happy with this news: Shiba Inu prices slid after the fact, with members of the community stating this was a low blow to retail buyers, and others calling it a rug pull.

Other Charities Also Received Donations

But Buterin didn’t stop there: he also proceeded to dump other meme coins to donate more money to other charities. According to his transactions record on Etherscan, Buterin donated almost 14,000 Ether to Givewell, a non-profit institution that rates charities and distributes donations based on its rank.

Vitalik also gave important contributions to Gitcoin, an organization that funds open-source software projects, and to the Machine Intelligence Research Institute. After Buterin sold most of these currencies and made the donations, his personal wallet address was flooded with incoming transactions of other meme coins, a sign that shows this new way of launching currencies is far from over.

What do you think about Vitalik Buterin dumping these meme coins to make donations? 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