With millions in donations to India’s Covid-19 relief fund, Vitalik assisted the country in its battle against the epidemic, giving around 500 Ethereum, 50 trillion Shiba Inu tokens, and other cryptocurrencies in May 2021. In January, around 100 million Shiba Inu tokens were returned to Vitalik. The Ethereum creator said that he had co-founded a new charitable organization named Balvi and that the funds had been transferred to that organization. Furthermore, Buterin said the funds would be utilized for development in the fields of science and medicine. On May 5, Vitalik verified via a tweet that his charitable organization Balvi had received the first round of fund recipients from which Balvi acquired $2.5 million in its first round of funding.
How the funds were used
The funds would be utilized to conduct research and development of Covid-19 vaccinations. A small number of people have had adverse effects as a result of the vaccine, and research and development is being conducted to reduce these consequences impacts against infections caused by the vaccine. There are also UV lamps that zap viruses to death, reducing transmission in indoor settings, air filters also reducing transmission in indoor environments. Additionally, air quality monitors to identify where air quality improvements are needed. Buterin added: Meanwhile the research and development wing tweeted: Notably, Buterin’s SHIB donation to India was converted into $76 million in stablecoins last year, while this year, he has already donated $5 million in ETH to aid Ukraine.
