Vitalik Buterin Burns 41% Supply of “Dog Token” Shiba Inu

Key Takeaways

  • Vitalik Buterin has burned just over 410 trillion of the SHIB tokens in his wallet, explaining that he does not want to be a “locus of power.”
  • Buterin recently received a large portion of SHIB and other dog-branded tokens to his Ethereum wallet.
  • Buterin sent $1 billion worth of SHIB and other tokens to various charitable organizations last week.

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After sending $1 billion worth of SHIB to India’s COVID-19 relief fund last week, Vitalik Buterin has burned 41% of the token’s circulating supply. 

Vitalik Buterin Burns SHIB Supply 

Vitalik Buterin spent part of his weekend destroying dog coins. 

The Ethereum co-founder sent 410,241,996,771,871.894771826174755464 SHIB to a burn address last night, which equated to around 41% of the circulating supply. 

Buterin had received large amounts of SHIB and other so-called “dog tokens” to his Ethereum wallet. His wallet is known by many crypto followers, so several projects have opted to send a supply of their tokens to his address in the past, likely as a guerilla marketing tactic. 

Many dog-themed crypto projects have received heightened attention in recent weeks amid Dogecoin’s surge. The Dogecoin derivatives were unwittingly placed under the spotlight last Wednesday when Buterin began exchanging the tokens he’d received for ETH and sending the coins to various charities. During the philanthropic spree, he sent 50.69 trillion SHIB to India’s Covid-Crypto Relief Fund. The donation had a notional value of $1.1 billion. 

After burning the SHIB tokens last night, Buterin posted an onchain message, explaining that he does not want to receive any tokens without consent. “PLEASE DO NOT GIVE ME COINS OR POWER IN YOUR PROJECT WITHOUT MY CONSENT!” he said. “I don’t *want* to be a locus of power of that kind.” Buterin also applauded “the dog token communities” on their willingness to support charitable causes and urged other projects to consider giving to…

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