Vitalik Buterin has burned his Shiba Inu (SHIB)
A few days ago Vitalik Buterin decided to burn his SHIB (Shiba Inu) tokens that had been donated to him.
— Revenant (@livelyrevenant) May 16, 2021
Buterin accompanied the burn transaction with a text in which he says:
“I’ve decided to burn 90% of the remaining Shiba tokens in my wallet. The remaining 1.0% 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”.
Therefore, just as he has done before, Buterin will make another donation of these tokens in order to get rid of them completely.
Indeed, he added:
“Simply holding the remaining coins in the 0xab58 wallet forever was never an option”.
With this statement, he practically rejected the gift given to him by the creators of Shiba Inu, both because he has in fact now gotten rid of almost all the tokens he received, and because he explicitly said that he had no intention of keeping them anyway.
But Buterin also added a sentence that sounds like a tombstone on this kind of initiative.
In fact, he wrote:
“for anyone making coins (or DAOs, or whatever else) in the future, PLEASE DO NOT GIVE ME COINS OR POWER IN YOUR PROJECT WiTHOUT MY CONSENT”.
The relationship between Vitalik Buterin and the Shiba Inu project
The point is that it is very likely that the creators of Shiba Inu have in this way exploited the name of Vitalik Buterin to promote their project without first asking the co-founder of Ethereum for permission to do so. Buterin did not appreciate this behaviour, and wanted to publicly declare once and for all that he did not want to be involved in similar initiatives.
The price of SHIB in the last 24 hours is down 21%, while compared to a week ago it is down 57%.
However, in the last month, it has risen by 620% and is still well above the price at the beginning of the year.
It should be noted, however, that there are many doubts in the crypto environment about this project, which many consider not particularly credible.