When hospitals ran short of beds and oxygen cylinders during the second wave of Covid-19 in April and May of last year, Ethereum developer Vitalik Buterin came to India’s rescue.
Vitalik aided India’s fight against the pandemic by donating millions to the Covid-19 relief fund, providing around 500 Ethereum, 50 trillion Shiba Inu tokens, and other cryptocurrencies in May 2021.
Around 100 million Shiba Inu coins were returned to Vitalik in January. The Ethereum founder stated that the monies had been transferred to a new philanthropic organization called Balvi, which he co-founded. Furthermore, Buterin stated that the cash would be used for scientific and medical research.
Vitalik confirmed through Twitter on May 5 that his nonprofit organization Balvi had received the first batch of fund beneficiaries, with Balvi receiving $2.5 million in the first tranche of funding.
What was done with the money?
The monies will be used to pursue Covid-19 vaccine research and development. A small number of persons have experienced negative side effects as a result of the vaccine, and research and development is underway to lessen the vaccine’s influence on infections.
There are also UV lamps that zap viruses to death, minimizing transmission in interior situations, as well as air filters that reduce transmission. Air quality monitors are also used to determine where improvements in air quality are required.
Buterin’s SHIB pledge to India last year was transformed into $76 million in stablecoins, and he has already donated $5 million in ETH to Ukraine this year.