Ethereum Co-Founder Destroys 90% of Shiba Inu Tokens

Vitalik Buterin threw away 90% of the fake coins that were in his wallet. He promised to donate another 10% to charity.

Ethereum Co-Founder Destroys 90% of Shiba Inu Tokens

Ethereum co-founder Vitalik Buterin burned 90% of the Shiba Inu tokens that were stored in his wallet by sending them to a non-existent address. In total, Buterin destroyed 410 trillion tokens worth $6.5 billion. Earlier, the developers of Shiba Inu sent 505 trillion tokens to Vitalik Buterin’s public wallet, which was more than 50% of the intended quadrillion digital coins. The project’s white paper says that after sending the tokens to the Ethereum creator’s address, the developers burned them.

When people want to get rid of their tokens, they can burn them. This will help stop inflation. When a person burns tokens, they have to tell the blockchain about it so that everyone knows the coins are gone.

On May 13th, Buterin donated $1 billion to India. He transferred 500 ETH and more than 50 trillion Shiba Inu tokens worth about $1.14 billion at the time of the transaction to the India COVID-Crypto Relief Foundation.

Buterin promised to give his remaining Shiba Inu tokens for charity. They will not be used to fight the coronavirus, but they will be used for purposes that are longer-term.

The Shiba Inu token rose 36% in an hour. It is now worth $0.000016. The first day of trading was the best day for the token, when it reached a historic high of $0.000050 on Binance’s exchange.

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