Vitalik Buterin Burns SHIB Tokens Worth of $6.7 B

by in Cryptocurrency News

Vitalik Buterin burns Shibs

The youngest billionaire in the crypto industry Vitalik Buterin has burned 90% of his Shiba Inu owning, valued at $6.7 B received by the coin's developers.

Data from Etherscan shows that the transaction was done on May 16. In an attached note Vitalik Buterin gave the motive of his move. He said it was the desire to show his support to the "Dog token community".

Particularly, he wrote about being touched by the generosity and the way dog token communities had accepted the latest contributions. Buterin noted that many dog people had expressed readiness to not only concentrate on their personal earnings but make the world a better place. The Ethereum founder added he supports everybody who sincerely does that.

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Earlier, on May 12, Buterin sold 10% of his SHIB holding directing the sum of $1.2 B to a Covid-19 relief fund in India. In August 2020, when Shiba Inu tokens were launched the team burned 50% of the entire supply to honor Buterin. The rest of the units they locked in Uniswap as liquidity.