Ethereum creator burned billions of dollars in tokens

(ORDO NEWS) — A native of Russia and creator of the Ethereum digital currency, Vitalik Buterin burned 90 percent of the Shiba Inu tokens that were stored in his wallet. He sent them to a non-existent address, it follows from the data on the Etherscan website.

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Burning tokens is their destruction to reduce the number in circulation. In total, the youngest crypto billionaire got rid of 410 trillion tokens worth $ 6.5 billion.

The rest he intends to send to charity. Earlier, the creators of Shiba transferred half of all coins issued to the founder of Ethereum in order to draw attention to their cryptocurrency.

In May, Buterin donated more than $ 1 billion to the India COVID-Crypto Relief in the fight against coronavirus in India and other charities.

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Vitalik Buterin was born in 1994 in Kolomna, in early childhood he moved to Canada with his parents. In 2011, Buterin founded Bitcoin Magazine, and in 2015 launched his own blockchain platform Ethereum.

As of May of this year, the 27-year-old programmer has become the youngest crypto billionaire in the world, his income has grown 25 times over the past year. The entrepreneur’s cryptocurrency wallet has 333,520 tokens worth over $ 1.09 billion.

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