Saturday, September 30

Ethereum Creator Receives BRL 539 Million Back After Donating Shiba Inu, Understand

After receiving 50% of all Shiba Inu (SHIB) on the market last year, Vitalik Buterin, creator of Ethereum, decided to burn 90% of them and send 10% to charities. However, this Friday (28), Vitalik received 100 million USDC back, equivalent to 539 million reais.

According to CryptoRelief, an institution that received US$ 1 billion, the reason for the return is linked to government bureaucracy. Vitalik stated that he will use the funds to help the work of this same institution.

Regarding donations to his wallet, the Ethereum servant has already asked them to stop sending him cryptocurrencies without his consent. However, shitcoins like McDonalds DAO and scams like Amazon Metaverse keep coming to your address.

Where will Vitalik Buterin spend this 100 million dollars?

After telling how he poured 6.7 billion dollars into the market, the story between Vitalik Buterin and the funds received in Shiba Inu (SHIB) gets another episode.

In May of last year, the creator donated 10% of these SHIBs — about $1 billion — to an institution dedicated to fighting Covid-19 in India, CryptoRelief. Despite this, this Friday (28), 100 million dollars (in USDC) returned to him.

“CryptoRelief is sending $100 million from the SHIBA fund back to me. I plan to implement these funds personally with the help of scientific advisors to complement CryptoRelief’s excellent work with some science and assistance projects around the world.”

As justification, Sandeep Nailwal, co-founder of Polygon and creator of CryptoRelief, stated that the reason is the bureaucracy found in India.

In sete tweets, Sandeep explains that while CryptoRelief is not based in India, the fact that he is an Indian citizen makes it more difficult. Because of this, Vitalik, born in Russia and a Canadian citizen, will be able to get this money used more quickly.

This will also help to calm the spirits of the Shiba Inu community who, in July 2021, were complaining that the donated funds had not yet been used.

Finally, Vitalik’s attitude of not using these billions for his own benefit is a good clue about his nature. Even so, some insist that he is a scammer.

Vitalik no longer wants shitcoin donations

Still trying to spend the money earned from the sale of Shiba Inu, the creator of Ethereum has already asked them not to send him cryptocurrencies without his consent.

However, your wallet is full of shitcoins. While most of them are worthless, others are worth a few million dollars, as shown below.

Vitalik Buterin’s wallet containing millions in tokens. Source: ETHPlorer

However, it is important to note that many of these cryptocurrencies do not have liquidity, that is, Vitalik would not be able to obtain values ​​close to those shown above. Anyway, the amount can help other people if Vitalik decides to move them someday.