Co-founder of the world’s second largest cryptocurrency, Ethereum announced donation worth million dollar to fight against novel coronavirus. Vitalik Buterin has donated 500 coins and more than 50 trillion SHIB meme coins. The donation makes $1.14 billion to India’s Covid crypto Relief Fund.
However, the transaction created panic among the investors after the SHIB price drop by 35% on Wednesday. SHIB, named after Shiba Inu, and Dogelon Mars (ELON), are the meme coins that were also donated by Buterin as alternative cryptocurrencies. High investments were done in both the meme coins as per a report by Tech Crunch.
Meanwhile, Sandeep Nailwal, the one holding the Indian-Covid-Crypto-Relief-Fund, asked investors not to panic as he wrote “will not do anything which hurts any community specially the retail community involved with $SHIB”. He further added, “Plz don’t worry $SHIB holders,” he said as the meme coin transaction created panic among some investors.
At the age of 27, Vitalik Buterin became the youngest crypto currency founder. He also donated Ethereum and Dogelon Mars worth $336 million to a non profit organization supporting tissue engineering and regenerative medicine therapies. He also gave more than 13,00 ETH to Givewell ,another non-profit organization.