Vitalik Buterin Details Disposal of 500 Trillion SHIB

TLDR

• Vitalik Buterin confirmed that Ryoshi sent him 500 trillion SHIB in 2021 as part of the initial token supply.
• He said he sold a portion of the meme coins and converted the proceeds into ETH for donations.
• Buterin revealed that he burned about 410 trillion SHIB by sending them to a dead wallet.
• He stated that he donated funds to the Crypto Relief initiative in India and to Sandeep.
• Buterin clarified that he also transferred some tokens to the Future of Life Institute.

Vitalik Buterin disclosed new details about how he handled 500 trillion SHIB tokens sent to him in 2021. He addressed claims linking his past donations to the Future of Life Institute and clarified his actions. He explained that he sold, donated, and burned large portions of the meme coins he received.

SHIB Donation and Burn Details

Buterin said Ryoshi sent him half of SHIB’s initial quadrillion supply in 2021. He stated that creators used the “Vitalik owns half” strategy as a marketing tool. He added that token prices surged quickly and pushed their combined book value above $1 billion.

He said he expected the bubble to pop and prices to fall sharply. Therefore, he sold what he could and converted the proceeds into ETH. He then directed the funds toward charitable causes instead of holding the assets.

Buterin confirmed that he burned about 410 trillion SHIB tokens. He sent them to a dead wallet and removed them from circulation permanently. As a result, he reduced the circulating supply by nearly half at that time.

Donations to Crypto Relief and Future of Life Institute

Buterin said he transferred part of the SHIB holdings to the Crypto Relief initiative in India. He also sent funds to Sandeep in connection with relief efforts. He explained that he expected to raise between $10 million and $25 million from the sales.

However, he converted the tokens into about $500 million due to rapid price increases. He said he also transferred some coins to the Future of Life Institute. He published the information to “clear the record” about his connection to the organization.

Buterin responded to posts on X that questioned his past donations. He said some users linked him to “various policy actions that they take.” He clarified that his donations did not imply control or endorsement of specific actions.

He explained that he did not want to keep the meme coins. He said he believed the projects used his name to promote their tokens. Therefore, he chose to dispose of the holdings through sales, donations, and burns.

Buterin stated that he acted in early 2021 when meme coin prices climbed fast. He said their market value exceeded his expectations within a short period. He reiterated that he did not intend to profit personally from the allocations.

Since then, the SHIB community has continued regular token burns. The team and holders aim to increase scarcity by reducing supply over time. The latest disclosures restate the actions he took during the 2021 distribution and burn process.

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