Shiba Inu Developer Corrects Buterin Over CryptoRelief Role

Generated by AI AgentCoin World
Wednesday, Jul 2, 2025 4:30 am ET1min read
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In a recent social media post,

Shiba Inu
developer Kaal Dhairya corrected
Ethereum
co-founder Vitalik Buterin, emphasizing the crucial role played by SHIB tokens in funding the CryptoRelief initiative. Dhairya noted that Buterin had overlooked the billions in SHIB tokens that were instrumental in supporting the initiative.

Earlier this week, former Binance CEO Changpeng Zhao announced a $10 million donation in

BNB
to Buterin's open-source biotech project, aimed at enhancing public health. Buterin publicly thanked Zhao for his generous contribution and also expressed gratitude to Polygon Foundation CEO Sandeep Nailwal and the CryptoRelief initiative for their support. However, some SHIB holders expressed dissatisfaction with Buterin's omission of SHIB's role in the donations.

The anonymous creator of Shiba Inu, known as Ryoshi, had previously transferred 50% of the total SHIB supply, amounting to around 500 trillion tokens, to Buterin. Initially, it was assumed that Buterin would not utilize these coins. However, in May 2021, Buterin burned 410 trillion SHIB tokens, valued at approximately $6.7 billion at the time. Additionally, around $1 billion worth of SHIB tokens were donated to the CryptoRelief fund, making it one of the largest cryptocurrency donations in history and significantly boosting SHIB's visibility.

Due to regulatory uncertainties in India, some of the donated funds were later returned to Buterin. Subsequently, Buterin established the Balvi Filantropic Fund in collaboration with the Shiba Inu community. In March, Buterin acknowledged that SHIB had "massively outperformed" his expectations, stating that he had initially sent a large amount of SHIB tokens, anticipating a significant drop in value within a few days. He had expected the tokens to be cashed out at a value of $10-25 million, but SHIB's performance exceeded his projections.

This exchange underscores the complex dynamics within the cryptocurrency community, where significant donations and collaborations can have far-reaching impacts. The interaction between Dhairya and Buterin highlights the importance of acknowledging the contributions of various stakeholders in the ecosystem. The CryptoRelief initiative, supported by substantial donations from SHIB and other cryptocurrencies, continues to play a crucial role in improving public health and biotechnology.