Vitalik Buterin donates $1 billion in ETH to Dogecoin Foundation
Although Buterin has not publicised the move, it is considered to be a part of wider efforts to further develop the Dogecoin
Vitalik Buterin, founder, Ethereum
Image: Michael Ciaglo/ Getty images via AFP
Vitalik Buterin, the founder of Ethereum, has secretly donated 500 Ether tokens to the Dogecoin Foundation. The donated coins are estimated to be worth $1 million. The news of Buterin's donation was shared on Twitter by Dogecoin investor Matt Wallace, and a transaction to this effect was recorded on Ethereum's network, as shown on Etherscan.io.
The 28-year-old crypto billionaire's donation comes at a critical time for the crypto community, which is still reeling from the ramifications of the Terra Luna crash. The Dogecoin Foundation, which was originally founded in 2014, was relaunched in August 2021 after DOGE exploded in popularity and value.
Even though he has not publicly commented about the donation, it is worth noting that Buterin has been involved with Dogecoin since last year, and he serves on the Foundation's advisory board.
In a blog post in December 2021, the Dogecoin Foundation announced that it was “working with Vitalik (Founder of the Ethereum blockchain) on crafting a uniquely Doge proposal for a ‘Community Staking’ version of PoS that will allow everyone, not just the big players to participate in a way that rewards them for their contribution to running the network, and at the same time gives back to the whole community through charitable causesâ€.
