In the past, the co-founder of Ethereum has made cryptocurrency donations totaling millions of dollars.
Co-founder of the Ethereum network, Buterin, transferred 3,000 Ether ETH tokens valued at over $8 million to a new multisignature wallet.
The funds were transferred to an unnamed wallet, “0xfEB,” which may be associated with a charitable organization.
Buterin would not be the first to make a valuable cryptocurrency donation, as the $8 million transfer would not be his first.
Buterin contributed more than $1.2 billion in cryptocurrency to the Indian Covid-Crypto Relief Fund in May 2021.
Blockchain data indicates that Buterin executed the billion-dollar charitable transfer using more than 50 trillion Shiba Inu tokens.
The open-source bug bounty platform Gitcoin has received over $441 million in Akita (AKITA) coins from Buterin, who has also donated a significant number of dog-themed memecoins in the past.
In comparison to donations made through the legacy fiscal system, which are less efficient, crypto donations are gathering momentum as a result of their increased speed and global reach during a crisis.
The Giving Block, a crypto charity platform, predicts that cryptocurrency donations will surpass $10 billion within the next decade.
The all-time crypto donations in the platform exceeded $125 million in 2022, as per The Giving Block’s 2023 annual report, “Crypto Philanthropy Data, Trends & Predictions.”
The crypto charity initiative anticipated that it would surpass $1 billion by August 2027, $5 billion by June 2031, and $10 billion by November 2032, according to the available data.
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