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In a rare positive development this week, Ethereum co-founder Vitalik Buterin announced that, alongside Polygon co-founder Sandeep Nailwal, he has pledged an additional $100 million for Covid-19 relief efforts.
On June 9, Buterin stated that he and Nailwal “discussed and jointly concluded these and other projects are high-impact and need follow-through grants.”
“Hence we decided to put $100 million more to these projects.”
Last year, the pair donated a similar amount through the community-driven Crypto Relief initiative.
Vitalik Supporting Covid Causes
Buterin noted that Crypto Relief has contributed $90 million in USDC from his original SHIB donation, with an additional $10 million coming from his personal funds. In May 2022, Buterin donated 50 trillion SHIB tokens to the project.
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Crypto Relief is an initiative launched by Buterin and Nailwal to provide long-term strategic funding for healthcare donations in India.
Buterin acknowledged that Covid-19 remains a global issue, as do the risks of future pandemics. “Work in India continues to be a key part of the solution,” he said, adding that an integrated global approach is also necessary.
To achieve public health solutions, Buterin has committed to “insist on maximal viable open-source for anything we fund.”
Crypto Use for Donations
He added that another key focus is on “solutions that depend not on radical behavior change, but on medical and infrastructure work.” These solutions may operate behind the scenes but must remain transparent and open to public scrutiny, he noted.
Cryptocurrency is increasingly being used for donations across a wide array of causes and projects. These range from relief efforts in war-torn Ukraine and emergency donations for the Turkish earthquake to support for Canadian truckers.
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