Wednesday, November 30

Vitalik Buterin uses funds in the fight against COVID-19!

Ethereum creator Vitalik Buterin will use $100 million worth of Shiba Inu (SHIB) to aid research against COVID-19.

Specifically, this weekend, Vitalik Buterin, stated in his Twitter post that The Crypto Relief Fund would be sending him $100 million worth of crypto from “Shiba funds.”

In case you didn’t know, in May 2021, Vitalik Buterin made plenty of headlines when he invested over $1 billion in Shiba Inu. To help COVID-19 relief in India.

$100 million Shiba Inu returned to Vitalik Buterin

India’s Covid Relief fund has returned $100 million from Vitalik Buterin’s SHIB donation. So that you can implement them where you see fit.

In this regard, Polygon co-founder Sandeep Nailwal, who founded the Covid Crypto Relief Fund (CryptoRelief) in April 2021, told the press that he and Vitalik have been in talks. Particularly, “on how to speed up relief efforts in India.”

«CryptoRelief has been very cautious to fully comply with the Indian jurisdiction. Even though the CryptoRelief entity is based in India».

In fact, in a hilo On Twitter, Nailwal explained that Vitalik Buterin can use the funds more effectively for charitable purposes as a non-Indian citizen.

Indeed, according to their statements, they have found a solution. They are moving $100 million back to Buterin to have faster deployment of funds for high risk/reward projects.

For his part, Vitalik Buterin said: «CryptoRelief sends me $100 million from SHIBA funds. I plan to personally implement these funds with the help of scientific advisers to complement the excellent existing work of CryptoRelief. With some of the highest risk and highest reward COVID science and aid projects around the world».

By the way, the million dollar donation was converted to the USDC Stablecoin. In other words, future donations will not mean any kind of selling pressure on the SHIB token.

Create a new organization

Very important, Vitalik Buterin, will use the funds in biotechnology and medical sciences in the fight against COVID-19.

«I have co-founded a new organization (Balvi) to direct these funds. That he is in a better position to make these bets which are very high value and global in nature and bring great benefit to Indians and non-Indians».

Subsequently added: «Projects will include vaccine research and development. Innovative approaches to air filtration and ventilation, testing and much more».

As a curious fact, with the organization CryptoRelief, Buterin donated $500,000 to Sandeep Nailwal. A co-founder of Polygon who is trying to fight the disease.

In closing, CryptoRelief wishes the Vitalik team all the best. And that you can help with this amount to create a better world and future for all.

We want to know your opinion about Vitalik Buterin’s decision. Let me know in the comment box.

I retire with this phrase from Lao Tzu: «The wise do not hoard. The more you help others, the more you benefit. The more he gives to others, the more he gets for himself».