Ethereum Founder Donates Rp17.3 Billion For COVID-19 Handling In India

Vitalik Buterin, the world's youngest crypto billionaire. (photo: instagram)

JAKARTA - Co-founder of the popular cryptocurrency, Ethereum, Vitalik Buterin, has donated 1.2 million US dollars (17.3 billion rupiahs) in cryptocurrencies to India's Crypto COVID-19 Relief Fund, as well as several other charities in India.

Buterin, who claimed his place as the world's youngest crypto billionaire, two weeks ago, made this donation by issuing a large amount of dog-themed cryptocurrency that was given to him.

These include the creators of Shiba Inu Coin (SHIB), Dogelon (ELON), and Akita Inu (AKITA), these three imitators emerged after the success of Dogecoin. However, these imitators have a much larger supply of tokens, according to Forbes.

In one transaction, he donated 50 trillion Shiba Inu tokens totaling US$1.2 million (or approximately 17.3 billion rupiahs) on May 12, to India's Crypto Covid Relief Fund. The charity was founded and managed by Sandeep Nailwal, co-founder and COO of Polygon formerly known as Matic Network.

In April, Buterin donated around $600,000 worth of Ethereum and Maker tokens to India's Crypto Covid Relief Fund. Nailwal himself plans to use the funds to bridge the oxygen demand that India is currently experiencing.

To date, US$74,950 (1.08 billion rupiahs) has been transferred by Nailwal to the Rajeev Memorial Academic Welfare Trust for the needs of ICU ventilators and Oxygen Concentrators. A further 129,125 US dollars (1.870 billion) has also been donated to the India Trust Round Table for ICU Ventilator and PPE kits. Lastly, US$999,900 (approximately 14 billion) to ACT Grants -- United Way of Bengaluru for oxygen concentrator donation.