Ethereum co-founder & CryptoRelief allocate $100M to fight COVID & other future pandemics

Vitalik supported “CryptoRelief” to allocate $100M to fight COVID & future pandemics.

CryptoRelief fund was launched by Polygon co-founder Sandeep Nailwal in early 2021, during the COVID-19 second wave in India. In Q3 2021, this fund signed a deal with Unicef India to procure 160 million syringes to fight against the COVID-19 pandemic. So far, this fund collection reached nearly $429.59 million in 10 crypto assets & disbursed nearly $36.28 million worth of crypto assets.

On 8 June 2023, Ethereum co-founder Vitalik Buterin confirmed that he will participate in the CryptoRelief initiative to raise $100 million. 

This amount of funds will go for the initiatives, started by the charities during COVID-19 & also will help to fight future pandemics.

Last year @CryptoRelief_ led by @sandeepnailwal allocated $100m to Covid research projects I wanted to fund

Sandeep and I discussed and jointly concluded these and other projects are high-impact and need follow through grants. Hence we decided to put $100m more to these projects

— vitalik.eth (@VitalikButerin) June 8, 2023

Here Vitalik will donate $10 Million and the rest of the funding will come from $90 million worth of Shiba inu tokens, donated by Vitalik to the CryptoRelief. 

In 2021, Vitalik received a very big amount of Shiba Inu tokens from the Shiba Inu project team. At the time, Vitalik burned 90% of the received free shib tokens, worth nearly $6 billion at the current shib token trade price, & rest of the remained fund released to the CryptoRelief fund. 

Here CryptoRelief is focused on increasing funding support for medical research. Polygon co-founder Nailwal said that he is happy that he is contributing to the medical sector through his fund. He said that CryptoRelief holds nearly $200 million & also needed more funding to contribute to the medical sector.

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