Vitalik Buterin, the Russia-based co-founder of the world’s second largest cryptocurrency Ethereum, has donated 500 coins and over 50 trillion SHIB meme coin worth around $1.14 billion to the India
Topics
Ethereum upgrade | Coronavirus | cryptocurrency
IANS |
Last Updated at May 13, 2021 17: 25 IST
Vitalik Buterin, the Russia-based co-founder of the world’s second largest cryptocurrency Ethereum, has donated 500 coins and over 50 trillion SHIB meme coin worth around $1.14 billion to the India Covid-Crypto Relief Fund, as the country grapples with the lethal second wave of the pandemic.
Sandeep Nailwal, the man behind India Covid-Crypto Relief Fund, said in a tweet late on Wednesday that they will not “do anything which hurts any community specially the retail community involved with $SHIB”.
“Plz don’t worry $SHIB holders,” he said as the meme coin transaction created panic among some investors.
The SHIB meme coin fell more than 35 per cent after the donation.
The meme coin has garnered billions of dollars worth of investment in recent days, reports TechCrunch.
“A number of entrepreneurs including Balaji Srinivasan have donated to the India Crypto Relief Fund, which maintains a log of all the donations,” the report mentioned.
Buterin is a Russian-Canadian programmer and writer who is best known as one of the co-founders of Ethereum.
One Ethereum is currently priced for Rs 2.88 lakh.
Buterin became involved with cryptocurrency early in its inception, co-founding Bitcoin Magazine in 2011.
In 2013, he visited developers in other countries who shared his enthusiasm for code. He returned to Toronto later and published a white paper proposing Ethereum.
He dropped out of university in 2014 when he was awarded with a grant of $100,000 from the Thiel Fellowship, a scholarship created by venture capitalist Peter Thiel and went to work on Ethereum full-time.
In 2014, Buterin launched Ethereum.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
No comments:
Post a Comment