Regulatory cloud over Vitalik Buterin’s $1 bn crypto donation

The Ethereum cofounder’s donation has put the crypto community at the front and center of India’s covid relief efforts. But given the market fluctuations and regulatory uncertainty in India around digital currencies, crypto donations could translate to much less in actual money

author-image

By 

Pratik Bhakta

May 13, 2021

3 Min Read

{The Crux brings you crisp and incisive analysis on the developments that matter.}

The News: Vitalik Buterin, the 27-year-old cofounder of Ethereum, has donated more than $1 billion worth of Shiba Inu, a meme coin, to India’s Crypto Covid Relief Fund, causing a flutter in the community and raising questions around whether the price of the asset will hold.

He also contributed 500 Ethereum coins to the fund, according to a Techcrunch report. Ethereum was hovering at Rs 3 lakh ($4,075) per coin on May 13, 2021, making the contribution worth about $2 million. Earlier, on April 25, he contributed $600,000 worth of Ethereum and Maker currencies (100 each) to the fund. 

Prices of both these coins have increased since and combined are worth over $860,000 now.

Join now to continue reading

Sign in using

Or

Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service

and

Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Filtering the Noise

New economy companies cannot always be evaluated using traditional methods. We analyze the relevant metrics, ask the tough questions to get you the right picture.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.

share-button
like-button
share-button

For subscribers only

Premium Reads

>>

View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.