Vitalikto get $100 million worth of cryptocurrency. Is it something like Shiba Inu again?

Ethereum Co-founder had been sent approx 410 trillion SHIB last year, without his consent.

Now Vitalik will get $100 million worth of USDC stablecoins, but this time it was not some marketing stunt as Shiba Inu did. This will be received back from the fund he donated in the relief fund, 

Announcements about re-allocating $100 million to Vitalik

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Founder of Crypto relief fund, Sandeep Nailwal, also co-founder of Polygon blockchain network. He tweeted on Friday they will move $100 million USDC back to Vitalik for the sake of deployment in high risk-high reward projects. 

On which Ethereum co-founder replied that he will use the fund of $100 million to complement the relief fund with higher risk and higher reward in worldwide covid science and relief projects.

Reasons for funding back 

Further details about the return of funds to Vitalik are why the founder of the crypto relief fund was unable to use it to the full extent, abided by the Indian laws and regulations, which are currently not that favourable for crypto. So he decided to bring back $100 million to Vitalik Buterin so being a Canadian citizen, he can deploy the fund quickly for the simple reason that he has the liberty to use it more freely for risky projects because of his non-Indian identity. 

Apart from that, a 27-year programmer has recently co-founded “Balvi’ named the organization. The organization will directly fund projects related to the research and development of Covid relief tasks like Vaccine, air filtration, ventilation and other related projects. 

When Shiba Inu sent SHIBs to Ethereum Co-Founder

Remember, last May, Ethereum co-founder Vitalik Buterin unwillingly gifted a massive amount of Shiba Inu tokens. After receiving the 410 trillion SHIB tokens, he burnt most of them; to be precise, he burnt approx 90% of received tokens which were worth approx $6.7 billion at the time. But what about the rest of 50 trillion SHIB tokens worth $1.2 billion? Those were donated to the Covid-relief fund in India. It’s not clear why Shiba Inu did that; however, most people considered it a marketing gimmick that might have worked too, resulting in a price hike of Doge-coin killer.