Ethereum co-founder, Vitalik Buterin has burned 90% of his Shiba token (SHIB) worth $6 billion. He gave the remaining 10% Shiba tokens to charity.
Vitalik Buterin burned 90% of the Shibu Inu token in his wallet, according to transaction data from Etherscan. The total sum amount $6.7 billion. And the remaining 10% give to charity large-scale loss of life COVID-19 Pandemic in India.
SHIB token makers gifted 50% of the total supply to Buterin. He wrote a note attached to a token-burning transaction.
“I’ve decided to burn 90% of the remaining Shiba token in my Wallet. The remaining 10% will be sent to a (not yet decided) charity with a similar value of cryptorelief (preventing large scale loss of life) but with a more long-term orientation.”
He sent over 410 trillion tokens to dead blockchain addresses and remove them from circulation. Last week Buterin gave a 50 trillion SHIB token to the India COVID Relief fund set up by Polygon Founder Sandeep Nailwal.
“I‘ve actually been impressed by now the dog token communities have treated the recent donations! Plenty of dog people have shown their generosity and their willingness to not just focus on their own profit but also be interested in making the world as a whole better. I support all who are earnestly doing that.”
Vitalik Buterin noted that simply holding the coins in the wallet forever was never an option for security reasons. He wanted to avoid a furious speculation hypothesis that could emerge from him making transactions utilizing dog tokens in the future.
Vitalik Buterin also said he would prefer that the maker of cryptocurrencies give them to charities directly, not to him. “I don’t *want * to be a locus of power of that kind. Better to just print the coins into the hands of a worthy charity directly.”
