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Buterin, Srinivasan Donate towards Coronavirus Relief Package in India

UTC by Daria Rud · 3 min read
Buterin, Srinivasan Donate towards Coronavirus Relief Package in India
Photo: Depositphotos

The funds raised by the coronavirus relief fund will be used to get oxygen and food. In addition, this money may even cover the cost of coronavirus vaccines for those who can not afford them.

India is currently challenged by COVID-19 which is rapidly spreading in the country, with a devastating daily surge in coronavirus cases. To support India in this extremely hard time, tech companies, as well as some outstanding names, are donating money to the country. In particular, Ethereum (ETH) co-founder Vitalik Buterin, crypto legend and former CTO at Coinbase (NASDAQ: COIN) Balaji Srinivasa donated more than $600,000 and $50,000 in ETH accordingly to the coronavirus relief fund in India. Companies like Amazon.com Inc (NASDAQ: AMZN), Zomato, Razorpay have not stood aside as well.

Buterin and Srinivasa contributed to the coronavirus relief fund in India in response to a tweet of Polygon founder Sandeep Naiwal who called for help and announced the relief campaign.

To demonstrate involvement, Vitalik Buterin posted a proof of transfer of 100 ETH as well as 100 MKR, together worth over $600,000. Besides, he thanked Naiwal for organizing the campaign.

Balaji Srinivasan allocated about 21.74 ETH worth approximately $50,000 for the COVID-19 relief.

According to Nailwal, he will use the funds to get oxygen and food. In addition, this money may even cover the cost of coronavirus vaccines for those who can not afford them. He also pledged to publish all the spending to ensure complete transparency.

Notably, the crypto donations are coming while the authorities of India are preparing the legislation that will ban cryptocurrencies. According to the draft bill, the new regulation will prohibit mining, holding, selling, trade, issuance, disposal, or use of cryptocurrency in India. Above all, the bill describes penalties for disobedience.

The only use of processes or technology underlying any crypto is the one for the experiment, research or teaching.

Coronavirus Surge in India

Every day, India reports an increasing number of coronavirus cases. Yesterday, it recorded 3,49,691 new cases, which is the highest single-day spike since the beginning of the pandemic. The total infection count in the country has climbed to 1,69,60,172 cases, with 26,82,751 of them being active now.

India’s Prime Minister Narendra Modi is now urging all citizens to get vaccinated. “We were confident, our spirits were up after successfully tackling the first wave, but this storm has shaken the nation,” said he.

To enhance protective measures, Delhi’s Chief Minister Arvind Kejriwal has prolonged a lockdown in the capital till next week.

As for the prognosis, epidemiologists and virologists are expecting the surge in India to reach its peak in mid-May, with the daily count of infections reaching half a million. Then, the spread will slow down.

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Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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