Vitalik Buterin, co-founder of Ethereum (ETH), donated nearly 1.5 billion worth of cryptocurrencies to India in May last year to help India in its fight against the Covid virus. The “gift” consisted of approximately 50 trillion Shiba Inu (SHIB) and 500 Ethereum (ETH).
Ethereum founder’s $100M Shiba Inu fund supports COVID fight
More than $400M of SHIBs have been sold to allocate funds to health-related projects and initiatives, according to estimates. However, towards the beginning of 2022, it was stated that $100 million worth of SHIB Buterin was returned to its possession. The Ethereum co-founder transferred this amount to a new charity known as Balvi.
I've cofounded a new org (Balvi) to direct these funds, which is in a better position to make these bets which will are very-high-value and global in nature and bring great benefit to Indians and non-Indians. You can follow funds at this address:https://t.co/mvmSSGPLmI
— vitalik.eth (@VitalikButerin) January 28, 2022
According to Vitalik Buterin, the first bounty group is now Distributed by Balvi Corporation
Balvi contributes to anti-COVID efforts through funding. As the co-founder of Ethereum, Buterin is seen as a staunch supporter of decentralization. Buterin argues in a tweet that the future of biodefense will be decentralized, open and collaborative in nature.
The largest consequence of Elon taking over Twitter may well be not any specific policy decision he makes, but rather the morale effect of his supporters feeling emboldened and his detractors feeling like they are arguing on enemy territory. This is happening already.
— vitalik.eth (@VitalikButerin) April 30, 2022
Funded by Vitalik Buterin, Balvi is committed to efforts to combat COVID. providing support
Buterin plans to use this trust to continue working on Covid while supporting other respected initiatives. For example, Balvi provided $2.5 million in funding to the Rapid Deployment Vaccine Collaborative (RaDVac), which will be used to develop vaccines for rapid delivery. The funds will be used by the company to create vaccines that are easily accessible worldwide, thereby closing the access gap.
Update from Balvi! (moonshot anti-covid effort funded by @ShibainuCoin @CryptoRelief_ ). We have our first round of funding recipients:
— vitalik.eth (@VitalikButerin) May 5, 2022
Ethereum inventor worried about rising gasoline prices
The highly anticipated Ethereum integration date, also known as ETH 2.0, has been postponed to the third quarter of the year. Buterin recently expressed dissatisfaction with the fees charged for Ethereum layer-1 transactions. He thinks the ETH gas fee should be lowered to $0.05 to become more acceptable to the public. We’ve covered some details about post-merge pre-merge preparations in this article.
At the time of writing, the cryptocurrency market was in decline. In the last 24 hours, Ethereum (ETH) has lost 3.4% and Shiba Inu (SHIB) has lost 2.4%.
