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.

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.

Read Also: Cardano's IOG says SEC's suits contain numerous factual inaccuracies about ADA

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.