In one of the largest philanthropy efforts ever seen in the crypto community, Vitalik Buterin, the co-founder of Ethereum, donated over $1B in cryptocurrencies Ether and Dogecoin look-alike (SHIB, ELON, AKITA), to India’s Covid Relief Fund and other few charities.
At the beginning of the month, we saw the crypto community come together and start a crypto fund in India to help the country fight the ongoing pandemic. This fund was initiated by an Indian tech entrepreneur and the co-founder of Polygon, Sandeep Nailwal, and saw contributions from several people, including Vitalik Buterin, who donated Ethereum for over $600,000.
Buterin recently became the world’s youngest cryptocurrency billionaire at the young age of 27. He has been popular for his giving back to the community attitude and recently donated over 50 trillion SHIB (Shibu Inu meme coin) and 500TH worth around $1.14 billion to India’s COVID-Crypto Relief Fund.
Naliwal gratefully accepted the contribution and assured Buterin and SHIB investors that the donation would be used responsibly. He tweeted, “We will not do anything which hurts any community especially the retail community involved with SHIB,”
Buterin also donated more meme coins, such as Dogelon (ELON) and Akita Inu (AKITA), that he received from the coin creators as gifts. Other than that, Buterin donated Elon and Ethereum worth $336 million to Methuselah Foundation, 13,000 ETH to Givewell, and AKITA worth $441 million to Gitcoin Community, MIRI, and Charter Cities Institute.
The popularity of Dogecoin and its recent traction have given birth to more meme coins that are not at their level yet. However, these coins have managed to collect billions of dollars from investors that strengthen their foundation.
While the country struggles to fight the pandemic, donations and support have been pouring in from several places. The contribution from Buterin to India’s Covid-crypto relief fund will force the Indian government to accept the huge opportunity the crypto community presents, and they cannot turn a blind eye to it anymore. This donation could start the much-needed crypto revolution in India.