Relief Fund India will return US $100 million from SHIB donation to Vitalik Buterin

Sandeep Nailwal, co-founder of Polygon (MATIC), announced today that Indian relief fund CryptoRelief will return $100 million from last year’s SHIB donation to Vitalik Buterin.

In May last year, Vitalik Buterin donated 50 trillion SHIB to the India Covid Relief Fund, as CoinCu News reported.

tweet In connection with this, Nailwal revealed the reason behind the decision to return $100 million in donations to Buterin.

He explained that as an Indian citizen he faces certain challenges and that he must be “extremely cautious about any funded project”.

Vitalik Non-Indian can do it faster through quick decision making and implementation for higher risk but also high reward projects.

The fund still has a reserve of USDC302 million and has so far committed USDC70 million to “disburse in India if required”.

buterin too return message on the subject and revealed that he has co-founded a new organization to manage these funds. He also left an address where anyone could track the funds.

“CryptoRelief is sending me back $100 million worth of SHIB tokens that I previously donated. I plan to use these funds, with the help of scientific advisors, to support CryptoRelief’s existing excellent work with a range of higher risk/reward science and charity projects worldwide.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page