1 billion in cryptocurrency donated to Covid relief fund.
Buterin donated 50 trillion SHIB tokens worth $1.2 billion (roughly Rs 8,800 crores) to the india Covid Relief Fund in a single transaction on May 12, 16:37 pm ET, according to a forbes report. sandeep Nailwal, a co-founder and COO of Polygon and an indian tech entrepreneur, founded the COVID Relief Fund. Buterin had previously donated ether and maker tokens to the india COVID Relief Fund for around $600,000 (roughly Rs 4.41 crores) in April. Buterin was thanked by Nailwal on Twitter. He said that the funds would be used wisely. “We will not do anything that will harm any group, especially the retail community that is associated with SHIB,” Nailwal said.
The Shiba Inu tokens were issued to Buterin on the condition that he would never sell them, according to the forbes article. Over the last year, the Shiba Inu token's developers are said to have sent half of the SHIB token supply to Buterin's wallet. According to the coin's website, 50% of all tokens have been permanently withdrawn from circulation, or at least that's what the creators probably intended.