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Only $20 Million of the $1 Billion India Covid-19 Donation C...
Crypto Business, Health Policy, News, Short

Only $20 Million of the $1 Billion India Covid-19 Donation Cashed

Co-founder of Polygon, Sandeep Nailwal, announced on April 24th his plan to set up a crypto Covid-19 relief fund, which is aimed at providing healthcare and essentials to those who are fighting the virus. 

Vitalik Buterin, Ethereum co-founder, donated over $1 billion in SHIB tokens and over half a million dollars in Ether and Maker to support the cause. 

However, only $20 million has been cashed out, with Nailwal explaining that it is difficult to comply with government regulations when it comes to liquid assets. Another $20 million cash out is in the works, and he wants to ensure complete transparency – as it stands, 80% has been completed so far.

He has also made donations to food distribution organizations across the country, as well as a 10-bed ICU for Covid-19 patients in rural India.

Source: Crypto News Flash

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