MultiversX Tracker is Live!

Vitalik Buterin and Polygon co-founder to help send $100M toward COVID-19 research

The Cointelegraph ​

Cryptocoins News / The Cointelegraph ​ 86 Views

Research into “long COVID” and furthering medical infrastructure development will be the two main focus areas for the Ethereum co-founder.

Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal to send $100 million toward COVID-19 research and medical infrastructure development in India.

Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own pocket to further the cause. The two will then help distribute the funds. 

According to a January 2022 Twitter post from Nailwal, Crypto Relief will transfer the funds to Buterin in order for the India-based crypto fund to remain in full compliance with their local laws.

The first installment went towards tackling the COVID-19 pandemic in India through “emergency humanitarian relief.”

Crypto Relief describes itself as a community-run fund that has delivered financial relief to India during the COVID-19 pandemic.

Buterin explained in a June 8 Twitter post that COVID-19 and “future pandemics” will continue to be a “large risk in the 21st century.” According to Buterin, we need a “global solution” that combines “frontier scientific innovation” and “on-the-ground implementation.”

Buterin said much of the COVID-19 research will focus on COVID-19 airborne transmission by building better medical equipment.

“This includes improving ventilation, HEPA filtering, and experimental tech like UVC irradiation,” he said.

The other main research area will focus on “Long COVID,” Buterin added.

“The most salient risks from Covid today are the very high number of people experiencing very-long-term symptoms (aka #LongCovid), and so Long Covid research continues to be a primary focus.”

Additionally, Buterin explained that the $100 million would be disbursed to a Gnosis Safe wallet.

Related: The virus killer: How blockchain contributes to the fight against COVID-19

The first $100 million donation was deployed by Buterin in late January 2022 or soon after, which initially came in the form of Shiba Inu (SHIB).

It isn’t the first philanthropic effort of Buterin’s either.

In April 2022, Buterin sent $5 million worth of Ether (ETH) donations to “Aid for Ukraine” to assist its defence against Russia’s invasion in February 2022.

As of November 26, Crypto Relief has managed to raise $473 million in funds, according to the firm’s website.

Cointelegraph reached out to Crypto Relief to get a more up-to-date figure but did not receive an immediate response.

Magazine: Joe Lubin — The truth about ETH founders split and ‘Crypto Google’

Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡🟡🟡 Huobi🟡 Kucoin.