Happy Wednesday, Blockfolians
The Lede
Unless you’ve been living under a rock, you know that everything is about the dog money.
Well, one of the ways that some of the dog coins have been trying to get prominence is by airdropping them to prominent public figure’s wallets. Vitalik turned that around on its head today, sending ONE BILLION DOLLARS worth (actually $1.2B) of SHIB to the India Covid Crypto Relief fund.
So why the hell did Vitalik have so many $SHIB? From CryptoSlate
Shiba additionally boasts of taking enough care to ensure the team doesn’t dump on holders. “The remaining 50% was burned to Vitalik Buterin and we were the first project following this path, so everyone has to buy on the open market, ensuring a fair and complete distribution where devs don’t own team tokens they can dump on the community,” the site explains.
SHIB is down 38% on the news, but the fund says they’re going to be good stewards of the resources:
What a time to be alive.
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Highly Relevant Reading
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CPI rises to highest level since 2009
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46 million Americans now own Bitcoin
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DeFi protocol xToken loses $24.5M in exploit
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MoneyGram bringing Bitcoin for cash to 12,000 locations
Community Commentary
It’s all anyone is talking about – here’s the full list
But is it a rug?
A Really Big Number We Should Be Paying Attention To
$500m
That’s the new milestone Ethereum’s Market Cap hit today
Final Thought
🤷♂️
