Vitalik Buterin, the co-founder of Ethereum Network, has donated over $1 billion worth of Shiba Inu Tokens ($SHIB) and around 500 ETH to India’s COVID-19 relief fund. Currently, India is struggling with the second wave of COVID-19, amid this situation, many of the popular names of the crypto community have come forward to support the country.
According to the reports, a few weeks ago, Sandeep Nailwal, co-founder of Polygon, set up a COVID-Crypto Relief Fund to help the country fight against coronavirus. Many of his fellow community members came forward to support his deed, Vitalik was one of them.
While thanking Vitalik for his support, Naliwal tweeted, “Thanks @VitalikButerin One thing we have learnt from Ethereum and @VitalikButerin is importance of community. We will not do anything which hurts any community especially the retail community involved with. We will act responsibly!Plz don’t worry Shib holders.”
Soon after the donation was facilitated through Vitalik’s account, the price of Shiba Inu Token, which is a newly-launched token, came down by 30 percent.
Interestingly, on one hand, the Indian government has been planning to ban cryptocurrency trading in the country, while on the other hand, the crypto community has come forward to support India, in the time of crisis.
As per the reports, the country has received around $6 million in 10 different cryptocurrencies.
During an interview, Naliwal told the earlier, the Indian crypto community was planning to use the top three cryptocurrency exchanges of India, i.e., CoinDCX, WazirX and BitBNS, to raise funds for the country. However, they did not do so, because, it might create a risk for them, therefore, they decided to consider other options.
It has been reported further that Australian cricketer Brett Lee has also donated $61145.95 worth of Bitcoins in a relief fund to help India. The money would be used to buy oxygen supplies for the hospitals around the country.