{"id":10166,"date":"2021-07-28T14:54:37","date_gmt":"2021-07-28T14:54:37","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/relief-fund-has-a-difficult-time-cashing-out-the-1b-worth-of-shib-vitalik-buterin-donated\/"},"modified":"2021-07-28T14:54:37","modified_gmt":"2021-07-28T14:54:37","slug":"relief-fund-has-a-difficult-time-cashing-out-the-1b-worth-of-shib-vitalik-buterin-donated","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/relief-fund-has-a-difficult-time-cashing-out-the-1b-worth-of-shib-vitalik-buterin-donated\/","title":{"rendered":"Relief Fund Has a Difficult Time Cashing Out the $1B Worth of SHIB Vitalik Buterin Donated"},"content":{"rendered":"

In mid-May, the co-founder of Ethereum, Vitalik Buterin, donated $1 billion worth of shiba inu (SHIB) tokens to India\u2019s Crypto Covid Relief Fund (CCRF). Close to three months later, the CCRF organizers say they have been having issues cashing out the SHIB tokens and so far, only $20 million has been paid out.<\/strong><\/p>\n

It\u2019s Not Easy Cashing Out SHIB Tokens<\/h2>\n

Roughly two months ago, Vitalik Buterin decided to donate<\/a> $1 billion worth of shiba inu (SHIB) tokens to India\u2019s Crypto Covid Relief Fund<\/a> (CCRF). Following the donation, CCRF thanked Buterin for his donation of 50,693,552,078,053 SHIB. \u201cWe plan to do a thoughtful liquidation to ensure we meet our COVID relief goals,\u201d CCRF said<\/a> on Twitter at the time. The nonprofit organization added:<\/p>\n

We have decided to convert the donation slowly over a period of time.<\/p>\n

A recent report<\/a> published by Bloomberg shows that the organizers behind CCRF are having a hard time cashing the SHIB tokens out. CCRF\u2019s founder, Sandeep Nailwal<\/a>, who is also the co-founder of Polygon (formerly known as Matic), explained this week that there have been some delays. Nailwal and CCRF have had to deal with a myriad of issues including regulatory policies<\/a> stemming from India and SHIB\u2019s market decline.<\/p>\n

<\/p>\n

SHIB Loses 83% in 90 Days, Crypto Covid Relief Fund Efforts Continue<\/h2>\n

When Buterin donated the funds, SHIB was a touch lower than it was 90 days ago when it hit an all-time high (ATH) of $0.00003791 per unit. Today, SHIB is 83% down from the crypto asset\u2019s ATH and Nailwal explained in his interview that the current stash is worth around $400 million. So far, Nailwal says the nonprofit has been able to cash out around $20 million. Still, despite the three-month drawdown, SHIB is up a whopping 11,215,808.0% over the last eight months.<\/p>\n

Pediatric and general Ventilators, Oxygen Concentrators and more found their way to Amritsar and Haryana at an Institute of Medical Research and Sciences ??via our partnership with @uwbe<\/a> ????#CryptoRelief<\/a> #CryptoVsCovid<\/a> #IndiaFightsCorona<\/a>#Covid19IndiaHelp<\/a> pic.twitter.com\/UvOVHg9WIY<\/a><\/p>\n

\u2014 India’s Crypto Covid Relief Fund ?? (@CryptoRelief_) July 21, 2021<\/a><\/p>\n<\/p>\n

Meanwhile, the CCRF organization continues to show its efforts<\/a> via Twitter, with actions like delivering rations and food kits. It has also collaborated<\/a> with other organizations like Janman People\u2019s Foundation. Team Khaanachahiye<\/a> thanked CCRF on July 21 when the organization helped needy families with food donations.<\/p>\n

\u201cThank you Crypto Relief for powering our fight against hunger in the Mumbai Metropolitan Region by supporting 10,000 needy families with grocery kits,\u201d Team Khaanachahiye said. \u201cWe are grateful. Thank You,\u201d the group that has delivered over six million meals added.<\/p>\n

What do you think about how difficult it is to cash out the shiba inu (SHIB) tokens Vitalik Buterin donated? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nNews, $1B donation, 400 million, 50 trillion SHIB, Crypto Covid Relief Fund, crypto tokens, Cryptocurrency, donations, Food, Food Kits, India, Janman People\u2019s Foundation, matic, Meals, Mumbai, Polygon, Sandeep Nailwal, shib, SHIB Token, shiba inu, Team Khaanachahiye, Vitalik Buterin<\/p>\n","protected":false},"excerpt":{"rendered":"

In mid-May, the co-founder of Ethereum, Vitalik Buterin, donated $1 billion worth of shiba inu (SHIB) tokens to India\u2019s Crypto Covid Relief Fund (CCRF). Close to three months later, the CCRF organizers say they have been having issues cashing out the SHIB tokens and so far, only $20 million has been paid out. It\u2019s Not…<\/p>\n","protected":false},"author":0,"featured_media":10167,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-10166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10166"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=10166"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/10166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/10167"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=10166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=10166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=10166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}