Ethereum founder Vitalik Buterin will receive back USD 100 million from more than USD 1 billion of Shiba Inu. He previously donated the amount to the India- focus COVID 19 Relief Fund CryptoRelief. “We will move $100mn USDC back to Vitalik, a non-Indian, to do the fast deployment in high risk/reward projects,” tweeted Polygon co-founder Nailwal.
Last May, Buterin donated 50 trillion SHIB tokens (about USD 1.2 billion at the time) to the CryptoRelief Fund without any request. Buterin tweeted that he would spend USD 100 million to “complement CryptoRelief’s existing outstanding research with risky and rewarding Covid science and relief projects around the world.”
This move happens when the Government of India is preparing to present a state budget on February 2.National lawmakers have considered new cryptographic regulations. Nailwal hinted that the attention of the country’s cryptocurrency played a role in the decision to return the amount of Stablecoin to Buterin. “Given the overseas origin of the fund and Indian law, Crypto Relief has taken a systematic, controlled and robust approach to paying the fund used in India,” Nailwal tweeted. He added that “But as an Indian Citizen (NRI), I need to pay particular attention to the projects donated”.
