• Tue. May 30th, 2023

$6.7 Billion Worth of Shiba Burned by Vitalik for Rewards

May 15, 2021

According to the latest reports, Vitalik Buterin has gone ahead and given another surprise to the entire cryptocurrency industry. Vitalik Buterin, the founder of Ethereum (ETH), has reported burned a large supply of Shiba Inu (SHIB). The sources reveal that Buterin has burned almost half of Shiba Inu’s (SHIB) supply.

Shiba Inu (SHIB) is reportedly considered the clone of the largest meme coin, Dogecoin (DOGE). It is currently experiencing the highest rally and is experiencing an all-time high due to the enormous adoption rate.

Buterin had also embedded a statement while he proceeded with burning the Shiba Inu (SHIB). Buterin added a statement in his transaction revealing the motive behind the burning of the tokens. Buterin reportedly went ahead and burned $6.7 billion worth of Shiba Inu (SHIB) tokens.

In the embedded note, Buterin stated that the burning for the Shiba Inu (SHIB) tokens was to serve as a generosity for the dog token community.

Buterin stated that he is surprised as well as proud to see how the dog coin communities have acted during times of need. They have played a huge role in supporting people in need through donations. Over time, many users linked with the dog coin community have shown how generous they are in terms of helping the ones in need.

These community members have shifted their focus from being oriented towards profits and have helped many people over the course of time.

With their actions, they have started playing a huge role in making the world a better place. Buterin stated that he is proud of how the cryptocurrency community has come forth in helping the world. He stated that he happily supports the ones who are in the industry helping others.

Buterin’s words and message to the dog coin community are the reason why no one is unhappy or angry with Vitalik Buterin for his recent actions. In the last week, the overall dog coin industry ended up facing a downfall and this happened mainly because of Buterin.

Buterin reportedly went ahead and started liquidating a large number of dog coins in order to generate huge funds. It was revealed that Buterin had started liquidating the tokens he had received from the creators of the Shiba Inu (SHIB) token.

The reports suggest that Buterin had reportedly received trillions of Shiba Inu (SHIB) tokens from the creators. Buterin later liquidated the tokens and donated the proceeds from the sales towards charitable causes.

Despite a sudden drop in the overall dog coin market, the dog coin communities were not angry at Buterin at all for his actions. They even thanked Buterin for his kind and supporting words towards the dog coin community and appreciated his efforts in the crypto-industry.

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