Ethereum co-founder Vitalik Buterin donated approximately $600,000 in ETH and MKR towards India’s coronavirus relief package

Ethereum co-founder Vitalik Buterin donated about $ 600,000 of ETH and MKR to India’s Coronavirus bailout.

ethereum-co-founder-vitalik-buterin-donated-approximately-600000-in-eth-and-mkr-towards-indias-coronavirus-relief-package

Source: Etherscan.io

Vitalik Buterin donated approximately $600,000 in ETH and MKR towards India’s coronavirus relief package

Through his Twitter account, Buterin shared his proof of a 100 ETH donation, worth approximately $ 228,648 along with 100MKR worth $ 380,000.

Buterin has responded to the call of the Ethereum scaling platform, the founder of Polygon Balaji Srinivasan Nailwal, who has called for a donation to help India. The country is currently in turmoil following the devastating Covid-19 surge with global partners pledging to assist.

Other individuals who have responded to the call include former Coinbase CTO and board partner at VC firm Andreessen Horowitz, Balaji Srinivasan, who has donated about 21.74 ETH worth about $ 50,000.

According to Nailwal, the money goes to the purchase of oxygen and food and possibly to cover the cost of vaccines. To promote transparency, Nailwal confirmed that the expenses will be made public.

The donation comes at a time when India is preparing to ban cryptocurrencies. Furthermore, the donation may be welcomed by the country’s authorities as Prime Minister Narendra Modi has said that the government is on its knees after the pandemic.

Although Buterin’s donation is as an individual, the Ethereum Foundation has been actively involved in charities. Last year, the fund reportedly donated 1,125 ETH to UNICEF. In another development, in 2019, the fund donated an unknown amount to UNICEF’s pilot cryptocurrency fund Bitcoin and Ether.

You can see the BTC price here.

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