VANCOUVER – Vitalik Buterin, co-founder and developer of the Ethereum cryptocurrency platform, donated more than $1 billion in meme coin “SHIBA” on Wednesday to the India-Covid-Crypto-Relief Fund to help combat the spread of Covid-19 in India.
Shiba is the most viewed crypto on Coinmarketcap.com at the moment, but what is Shiba?
When Shiba was first created, they put 50% of the Quadrillion tokens minted and locked the liquidity into Uniswap and threw away the keys, and the remaining 50% they sent unsolicited to Vitalik.
Why did Shiba creators do this? It was thought Vitalik is quite comfortable with his mountain of Ethereum tokens and would not bother to sell or move them, but the creators of Shiba were wrong.
Vitalik Buterin had different plans for his Shiba fortune and donated over $1 Billion worth plus 500 Ethereum coins for a total of $1.5 Billion to the India-Covid-Crypto-Relief Fund, likely the largest crypto donation in history.
The philanthropic gesture from Vitalik may have caused a selloff in Shiba tokens with concerns the Crypto relief fund may dump the tokens on the market, however, the co-founder of the relief fund said “We will not do anything the hurts a community, especially the retail community involved with $SHIB, we will act responsibly! Please don’t worry $SHIB holders.”
We seek Safe Harbor.