Vitalik donated 1 billion US dollars in shitcoins, but it has not yet been received and has depreciated by 400 million US dollars

Under Musk's "praise", the price of Dogecoin (DOGE) has soared. As a result, a large number of Dogecoin altcoins such as Shiba Inu Coin (SHIB), Mars Coin (ELON), and Akita Inu Coin (Akita) have emerged.

Most of these altcoins are issued based on the Ethereum platform. As a means of reducing supply and increasing demand, their founders have announced that 50% of the tokens will be donated to Ethereum founder Vitalik Buterin.

Of course, after owning so many altcoins, Bartlin not only converted the score into Ethereum, but also donated 50 trillion Shiba Inu coins worth US$1 billion to India, where the epidemic was out of control at the time, in May to fight the epidemic.

However, there are reports that this $1 billion donation seems to have run into trouble. Although cryptocurrency investors say that transactions in the crypto market are as fast, reliable and efficient as cash transactions, the donation process is actually quite cumbersome, and only $20 million has been received so far.

Sandeep Nailwal of the Indian COVID-19 Crypto Relief Foundation said that the 50 trillion Shiba Inu coins donated by Butlin faced many obstacles in actual operation.

First, since the number of Shiba Inu coins donated by Bartlin accounted for 5% of the total, its price crashed by 50%, causing its value to shrink by half. The Shiba Inu coins, which were worth $1 billion at the time, are now worth only about $400 million.

Secondly, according to relevant regulations, all Shiba Inu coins must first be converted into US dollars and then into Indian rupees. Now, this process has been completed by about 80%.

Currently, only $2,000 of Batlin's donations are used for actual anti-epidemic operations. In addition to purchasing food from all over India, a new intensive care unit has been established for patients with new coronary pneumonia.