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Unbelievable, Buterin Burns $6.6 billion worth of Shiba Inu Tokens. Shiba Inu, a new ERC20 is trending throughout the crypto market. Vitalik Buterin, the co-founder of Ethereum on Wednesday, donated $1 billion worth of Shiba Inu to India’s Crypto Covid Relief Fund.
It is on Sunday, Buterin decides to burn 410.24 trillion Shiba Inu tokens worth over $6 billion using today’s exchange rates.
Can you believe it? Buterin Burns $6.6 Billion Worth of Shiba Inu Tokens. Recent cryptocurrency interaction with Tesla’s Elon Musk Dogecoin and not moving focus to the new token Shiba Inu (SHIB). After its appearance on the scene, The ERC20 is considered to be the “dogecoin killer” and true to its reputation has turned many people into multi-millionaires almost overnight.
It is hard to believe that five days ago, after the co-founder of Ethereum, Vitalik Buterin, donates around $1 billion worth of SHIB to India’s Crypto Covid Relief Fund, and today decides to burn 410.24 trillion SHIB and left a message in the transaction hash.
He said he does not ‘I Don’t *Want* to Be a Locus of Power’
Currently, the SHIB market has a valuation of around $8 billion with more than $3 billion in global trade volume.
Buterin said, “I’ve decided to burn 90% of the remaining Shiba tokens in my wallet. The remaining 10% will be sent to a (not yet decided) charity with similar values to crypto relief (preventing large-scale loss of life) but with a more long-term orientation,” Buterin said.
He also commented on the recent “dog token” communities. In a message Buterin said
I’ve actually been impressed by how 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 profits but also be interested in making the world as a whole better. I support all who are earnestly doing that.
According to him, he wished ERC20 project creators sent funds to charitable efforts rather than to his wallet.