Ethereum co-founder Vitalik Buterin and Polygon co-founder Sandeep Nailwal have pledged $100 million to accelerate COVID-19 research and relief efforts in India.
As COVID-19 variants continue to emerge and spread, and with a very high number of people experiencing long-lasting symptoms, research efforts are critical.
How the donation will be used to support COVID-19 research
Buterin and Nailwal’s donations are some of the largest philanthropic contributions ever made in crypto. Buterin made the announcement in a Twitter thread and according to the thread, the fund will be donated to Crypto Relief, with the money going directly to researchers working on solutions to combat the long-term effects of the coronavirus.
Crypto Relief is a project led by Nailwal that was set up as an emergency relief fund during the height of the COVID pandemic. The polygon co-founder said the nonprofit is now upgrading to a strategic long-term fund for healthcare donations in India. Buterin also confirmed this change of approach in his Twitter post, noting that dealing with Covid and future pandemics requires an integrated global approach.
“Work in India remains an important part of the solution, but we also need an integrated global approach,” said the co-founder.
The money will be used to fund research projects related to groundbreaking scientific discoveries and inventions in India and other developing countries. Overall, it’s a victory for science, a victory for global health, and a victory for humanity.
ETH price falls to the $1,700 level | Source: ETHUSD on TradingView.com
Previous donations from Vitalik Buterin to COVID Relief
Vitalik Buterin has a history of donating to important causes such as COVID-19 relief, donating cryptocurrencies worth $1.5 billion to various non-profit organizations in 2021. During this period, Buterin donated more than $1 billion worth of Shiba Inu coins to support India’s fight against the coronavirus.
Buterin made the donation by redeeming 50 trillion SHIB tokens worth $1.2 billion, which he had received from the creators of the Shiba Inu coin. As India was one of the hardest hit countries during the pandemic, the fund helped provide medical equipment and supplies as the country struggled with a deadly second wave of COVID-19 infections.
Outside of the pandemic, Buterin has donated millions of dollars in crypto to various charities and causes. Last year, he quietly donated $5 million to relief efforts in Ukraine after the Russian invasion.
Featured image of Coingape, chart from TradingView.com
