According to Etherscan, Ethereum co-founder Vitalik Buterin has burned 90% of his Shiba Inu coin (SHIB) that were stored on his e-wallet. Some sources report that he sent them to a non-existent email address.
The burning of tokens leads to a reduction of coins in circulation. As a result, the crypto millionaire got rid of 410 trillion tokens worth $6.5 billion. He will donate the remaining amount to charity. “I’ve decided to burn 90% of the remaining shiba tokens in my wallet. The remaining 10% will be sent to a (not yet decided) charity with similar values to cryptorelief (preventing large-scale loss of life) but with a more long-term orientation,” Buterin said.
Interestingly, he was sent 50% of the total SHIB token supply by the token’s creators in an attempt to draw the attention of investors to their token. However, Buterin stressed that he did not want developers to give him any tokens without his consent, adding that he has no intention to be a “locus of power of that kind”.
This month, Buterin donated more than $1 billion to the India COVID-Crypto Relief fund to help curb the spread of the coronavirus in India and other charitable organizations. As of May 2021, Vitalik Buterin is the youngest crypto millionaire in the world. Over the past year, his income has increased 25 times. His cryptocurrency wallet has 333,520 tokens worth more than $1.09 billion.
