Skip to main content

Relief Fund Has a Difficult Time Cashing Out the $1B Worth of SHIB Vitalik Buterin Donated

https://motleybloggers.com/wp-content/uploads/2021/07/relief-fund-has-a-difficult-time-cashing-out-the-1b-worth-of-shib-vitalik-buterin-donated.jpg

Relief Fund Has a Difficult Time Cashing Out the $1B Worth of SHIB Vitalik Buterin Donated

In mid-May, the co-founder of Ethereum, Vitalik Buterin, donated $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund (CCRF). Close to three months later, the CCRF organizers say they have been having issues cashing out the SHIB tokens and so far, only $20 million has been paid out.


It’s Not Easy Cashing Out SHIB Tokens


Roughly two months ago, Vitalik Buterin decided to donate $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund (CCRF). Following the donation, CCRF thanked Buterin for his donation of 50,693,552,078,053 SHIB. “We plan to do a thoughtful liquidation to ensure we meet our COVID relief goals,” CCRF said on Twitter at the time. The nonprofit organization added:


We have decided to convert the donation slowly over a period of time.


A recent report published by Bloomberg shows that the organizers behind CCRF are having a hard time cashing the SHIB tokens out. CCRF’s founder, Sandeep Nailwal, who is also the co-founder of Polygon (formerly known as Matic), explained this week that there have been some delays. Nailwal and CCRF have had to deal with a myriad of issues including regulatory policies stemming from India and SHIB’s market decline.


if (!window.GrowJs) (function () var s = document.createElement('script'); s.async = true; s.type = 'text/javascript'; s.src = 'https://bitcoinads.growadvertising.com/adserve/app'; var n = document.getElementsByTagName("script")[0]; n.parentNode.insertBefore(s, n); ()); var GrowJs = GrowJs || ; GrowJs.ads = GrowJs.ads || []; GrowJs.ads.push( node: document.currentScript.parentElement, handler: function (node) var banner = GrowJs.createBanner(node, 31, [300, 250], null, []); GrowJs.showBanner(banner.index); );

SHIB Loses 83% in 90 Days, Crypto Covid Relief Fund Efforts Continue


When Buterin donated the funds, SHIB was a touch lower than it was 90 days ago when it hit an all-time high (ATH) of $0.00003791 per unit. Today, SHIB is 83% down from the crypto asset’s ATH and Nailwal explained in his interview that the current stash is worth around $400 million. So far, Nailwal says the nonprofit has been able to cash out around $20 million. Still, despite the three-month drawdown, SHIB is up a whopping 11,215,808.0% over the last eight months.




Meanwhile, the CCRF organization continues to show its efforts via Twitter, with actions like delivering rations and food kits. It has also collaborated with other organizations like Janman People’s Foundation. Team Khaanachahiye thanked CCRF on July 21 when the organization helped needy families with food donations.


“Thank you Crypto Relief for powering our fight against hunger in the Mumbai Metropolitan Region by supporting 10,000 needy families with grocery kits,” Team Khaanachahiye said. “We are grateful. Thank You,” the group that has delivered over six million meals added.


What do you think about how difficult it is to cash out the shiba inu (SHIB) tokens Vitalik Buterin donated? Let us know what you think about this subject in the comments section below.



Origina post from
https://motleybloggers.com/relief-fund-has-a-difficult-time-cashing-out-the-1b-worth-of-shib-vitalik-buterin-donated/

Comments

Post a Comment

Popular posts from this blog

US Senator Urges Congress to Pass Her Crypto Bill — Claims It Would’ve Prevented FTX Bankruptcy

http://motleybloggers.com/wp-content/uploads/2022/11/us-senator-urges-congress-to-pass-her-crypto-bill-claims-it-wouldve-prevented-ftx-bankruptcy.jpg U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital asset space.” Senator Lummis Explains How Her Crypto Bill Would Prevent the FTX Catastrophe U.S. Senator Cynthia Lummis (R-WY) explained in a series of tweets Monday why the collapsed cryptocurrency exchange FTX wouldn’t have gone bankrupt had Congress passed her crypto bill. The cryptocurrency trading platform filed for bankruptcy last week. The senator from Wyoming has been a supporter of bitcoin for quite some time. She personally owns BTC and believes that bitcoin is something that the Federal Reserve should hold on its balance sheet. She has said repeatedly that the cryptocurre...
Post a Comment
Read more

Bitcoin, Ethereum Technical Analysis: ETH Back Under $2,000 as Balenciaga Gains Lose Steam

https://motleybloggers.com/wp-content/uploads/2022/05/bitcoin-ethereum-technical-analysis-eth-back-under-2000-as-balenciaga-gains-lose-steam.jpg Following strong gains to start the week, BTC once again fell under $30,000, as crypto prices moved lower on Tuesday. The downturn follows up from yesterday’s rally, which came as Balenciaga announced it would be accepting crypto payments. ETH also dropped, falling under $2,000 today. Bitcoin Bitcoin fell under $30,000 on Tuesday, as bears returned to action following a green start to the week. Following a high of $30,547.50 during Monday’s session, BTC /USD fell to an intraday low of $28,975.56 earlier today. Today’s drop saw BTC fall by over 5% in the day, as bullish sentiment following the Balenciaga crypto announcement faded. BTC /USD – Daily Chart Since then, bears have now pushed prices closer to support at $28,800, which is an area where BTC has resided over the past few weeks. Looking at the chart, the 14-da...
Post a Comment
Read more

Tiffany & Co. NFT Sale Sells out, Luxury Jewelry Retailer Rakes in $12.5M in Ethereum

http://motleybloggers.com/wp-content/uploads/2022/08/tiffany-co-nft-sale-sells-out-luxury-jewelry-retailer-rakes-in-12-5m-in-ethereum.jpg On August 5, 2022, the American luxury jewelry retailer Tiffany & Co. announced that the company’s non-fungible token (NFT) mint called “Nftiff” sold out. Tiffany’s sold 250 Nftiffs for 30 ethereum per Nftiff raking in more than $12.5 million from the sale. The NFTs created by Tiffany’s have to be redeemed by August 12 and so far 94 Nftiffs have been redeemed. Tiffany & Co. NFT Sale Sells Out Gathering $12.5 Million in Ether Six days ago, MotleyBloggers.com News reported on Tiffany & Co. revealing an NFT mint called “Nftiff,” a new product crafted by Tiffany’s that combines non-fungible token technology and luxury jewelry. Since then Tiffany’s has hosted its sale and all 250 NFT units sold out, according to a tweet published by the company on August 5. “Depending on which Crypt...
Post a Comment
Read more