Vitalik Buterin to Use $100 Million From Crypto Relief’s SHIB Funds to Accelerate Covid Relief Efforts

https://motleybloggers.com/wp-content/uploads/2022/01/vitalik-buterin-to-use-100-million-from-crypto-reliefs-shib-funds-to-accelerate-covid-relief-efforts.jpg

Vitalik Buterin to Use $100 Million From Crypto Relief's SHIB Funds to Accelerate Covid Relief Efforts in India

Ethereum co-founder Vitalik Buterin has unveiled how he will use $100 million in cryptocurrency from India’s Covid Crypto Relief Fund (Cryptorelief) to accelerate relief efforts and “bring great benefit to Indians and non-Indians.” The crypto is part of the Shiba Inu funds Buterin donated to Cryptorelief last year.

Vitalik Buterin to Personally Deploy $100M From Shiba Funds to Help Covid Relief Efforts

Ethereum co-founder Vitalik Buterin tweeted Friday that Cryptorelief is sending $100 million in cryptocurrency from the “Shiba funds” back to him. He added that he plans to “personally deploy these funds” in some “higher-risk, higher-reward Covid science and relief projects worldwide.” Vitalik Buterin to Use $100 Million From Crypto Relief's SHIB Funds to Accelerate Covid Relief Efforts in India

Buterin’s statement was in response to a tweet by Sandeep Nailwal, co-founder of Polygon. Nailwal founded the Covid Crypto Relief Fund (Cryptorelief) in April last year.

Noting that he and Buterin have been in discussion “on how to accelerate relief efforts in India,” the Cryptorelief founder detailed:

We have come up with a solution, we will move $100mn USDC back to Vitalik, a non-Indian, to do fast deployment in high risk/reward projects.

Nailwal explained that Cryptorelief “has been extra cautious to be in full compliance of Indian jurisdiction, even though Cryptorelief entity is based out of India.”

He added: “Per conversations with Vitalik (who donated ~98% of the fund) … a sum of 100 million USDC will be transferred back to Vitalik’s address for accelerated funding in the domains of biotechnology and medical science, wherever he deems fit.”

Nailwal further revealed: “Cryptorelief still reserves 302mn USDC (Apart from ~70mn that it has already deployed) to keep disbursing in areas of need in India as it is.” Buterin donated $1 billion in shiba inu (SHIB) to the Indian covid relief fund in May last year.

Buterin subsequently tweeted: “I’ve co-founded a new org (Balvi) to direct these funds, which is in a better position to make these bets which are very high value and global in nature and bring great benefit to Indians and non-Indians.” He elaborated:

Projects will include vaccine R&D, innovative approaches to air filtration and ventilation, testing and much more.

What do you think about Vitalik working with Cryptorelief to accelerate relief efforts in India and abroad? Let us know in the comments section below.

Origina post from
https://motleybloggers.com/vitalik-buterin-to-use-100-million-from-crypto-reliefs-shib-funds-to-accelerate-covid-relief-efforts/

Comments

A Jacobin Podcast Review: Critiques on Crypto and Sterlin’s Response

https://motleybloggers.com/wp-content/uploads/2022/01/a-jacobin-podcast-review-critiques-on-crypto-and-sterlins-response.jpg The following opinion editorial is a Jacobin Podcast review written by the author Sterlin Lujan , the chief risk officer with Cryptospace. The Jacobin Podcast episode called: “ Dig: Cryptocurrency w/ Edward Ongweso Jr & Jacob Silverman, ” touches upon “cryptocurrency, NFTs, Elon Musk, the metaverse, meme stocks, and techno-utopianism amid the crushing reality of our neoliberal hellscape.” Cryptocurrency isn’t fringe technology anymore. Over the last decade, it has become embedded into finance, culture, and even our social life. It’s drastically changing the way we think about money, economics, and human action. However, some people, primarily on the left, are skeptical of cryptocurrency. Many of them hate it, regardless of how much of a godsend it has been for many. My friend, thought leader, author, and psychedelic visionary, Daniel Pinchbeck, pointed out a

P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. Nigerian Crypto Traders Get Creative Still, the increasing trades on informal platforms have also led to increased reports of users losing money to con artists. Moreover, with the CBN seemingly eager to see volumes of crypto trades plummet, Nigerian users had to find ingenious but legal ways of getting around the central bank’s imposed restrictions. As shown in one local report , one such legal way is through an app created by one local crypto start-up, Patricia. According to the report, this application is already enabling Nigerian users to buy or sell their crypto assets securely and without running afoul of CBN regulations. Therefore, in this report, we relis

‘Bitcoin Is Dead’ Google Searches Skyrocket, Bitcoin Obituaries Records 15 Deaths This Year

https://motleybloggers.com/wp-content/uploads/2022/06/bitcoin-is-dead-google-searches-skyrocket-bitcoin-obituaries-records-15-deaths-this-year.jpg According to the Bitcoin Obituaries list, bitcoin has died 15 times in 2022, and the last obituary written about bitcoin’s death was on June 18, in a recent statement that said: “Bitcoin Will Not Recover.” Interestingly, Google Trends data shows that the search phrase “bitcoin is dead,” is estimated to hit an all-time high this week. The Old Saying ‘Bitcoin Is Dead’ Comes Back to Life In recent times, you may have heard the phrase “bitcoin is dead,” or something similar. A great number of people truly believe that bitcoin is dead while many believe the crypto asset is the future of money. The past two weeks have been gruesome for bitcoin as prices dropped to a low of $17,593 per unit. The analytics company Glassnode shows the losses during the last three days have been massive. “The last three consecutive days have been the largest USD deno

motleybloggers

Search This Blog