May 19, 2022

Ethereum Founder Vitalik Buterin Donates $1 Bn Worth of Cryptocurrency For Covid Relief In India

The creator of Ethereum Vitalik Buterin has donated huge amounts of cryptocurrencies namely Ethereum and Shiba Inu, collectively worth $1.5 Bn to India’s COVID-Crypto Relief Fund, which was launched by Polygon co-founder and COO Sandeep Nailwal last month.

Buterin transferred 500 ETH and 50 Tn Shiba Inu (SHIB), a meme coin named after the dog breed, towards India’s Covid relief efforts. However, soon after the news about Buterin’s donation broke, retail investors sold off their SHIB assets in droves, causing the price of the cryptocurrency to plunge over 30% in the last 24 hours.

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