Ethereum Co-creator Vitalik Buterin donated over $1 billion worth of Dogecoin rival meme crypto to India to assist in the country’s efforts against the COVID-19 pandemic, the WSJ reported.
- The donation involved 50.7 trillion Shiba Inu coins worth $1 billion, sent to an account connected with the India COVID-Crypto Relief Fund.
- The transfer came from an account Buterin posted on his Twitter account in 2018, which he said he owned.
- The same records show that Buterin also donated some $2 million of Ether to the Indian fund.
- Fund manager Punit Agarwal confirmed receipt of the coins, which will be converted using FV Bank, in partnership with a company it set up in the United Arab Emirates.
- The funds will then be donated to qualified Indian nonprofits, and will likewise be used for oxygen cylinders and other supplies to Indian hospitals.
- Buterin was earlier gifted half of the Shiba Inu supply by the coin’s creators. He launched Etherum in 2015.
- Ethereum was trading down 9.41% to $3,892.91 while Shiba Inu was down 29.37% to $0.00001954 at 2:11 p.m. GMT.