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    Market analysis Vitalik Buterin Burns $6B in SHIB Tokens, Says He Doesn’t Want the ‘Power’ WikiFX  |  2021-05-18 1

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    Market analysis:Vitalik Buterin Burns $6B in SHIB Tokens, Says He Doesn’t Want the ‘Power’

    WikiFX  |  2021-05-18 10:20:47



    The amount destroyed equates to almost half of SHIBs total circulating supply.

    Ethereum co-founder Vitalik Buterin has burned 90% of his Shiba Inu coin (SHIB) holdings, an amount worth $6.7 billion.

    The trove of more than 410 trillion tokens was sent to a dead blockchain address late on Sunday, taking them out of circulation.

    Buterin had been given half of SHIBs total supply in recent weeks in what appeared to be a marketing stunt.

    “Ive decided to burn 90% of the remaining shiba tokens in my wallet. The remaining 10% will be sent to a (not yet decided) charity with similar values to cryptorelief (preventing large-scale loss of life) but with a more long-term orientation,” he said in a note attached to another transaction at the same time.

    Last week, Buterin gave 50 trillion SHIB tokens (worth around $1.2 billion at the time) to an India COVID-19 relief fund set up by Pol

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