Vitalik Buterin, 27-year-old co-founder of the Ethereum crypto network, the world’s youngest known crypto billionaire, has donated over $1 billion in memecoins to India’s Covid-19 relief fund as well as a number of nonprofit organizations fighting the country’s aggressive second wave.
According to Forbes, a large portion of Buterin’s donation was made using massive amounts of dog-themed “memecoin” that were given to him for free by the creators of the Shiba Inu coin (SHIB), Dogelon (ELON), and Akita Inu (AKITA). He gave 50 trillion SHIB tokens, which are worth approximately $1.2 billion, to the India COVID-19 Relief Fund, which was founded by entrepreneur Sandeep Naliwal.
Nailwal took to Twitter to express gratitude to Buterin and assure SHIB holders that the donation would be used responsibly by the relief fund. “We will not do anything which hurts any community, especially the retail community involved with SHIB. We will act responsibly! Please don’t worry SHIB holders,” he tweeted.
One thing we have learnt from Ethereum and @VitalikButerin is importance of community
We will not do anything which hurts any community specially the retail community involved with $SHIB
We will act responsibly!
— Sandeep – Polygon(prev Matic Network) (@sandeepnailwal) May 12, 2021
Aside from that, Buterin donated approximately $1.5 billion in coins to Indian charities, some of which were in his own cryptocurrency, Ether. According to Forbes, he has donated millions of dollars to technology-focused charities such as GiveWell, the Methuselah Foundation, and the Machine Intelligence Research Institute. Buterin donated approximately $600,000 in ether and maker tokens to Nailwal’s COVID-19 relief fund last month.