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INDIA SHAKEN BY THE SECOND WAVE OF COVID-19, BUTERIN AND SRINIVASAN DONATE TO INDIA COVID RELIEF FUND

 

Sadly, India is fighting a devastating wave of Covid-19 that is killing thousands of people each day. The second wave, which began in March, has rapidly escalated with India recording more than a million new cases in just three days.

For the past two weeks, medical facilities have been running out of oxygen and ICU beds, with patients left outside hospitals waiting for care. On Monday, India reported 352,991 new cases and 2,812 virus-related death, marking the world’s highest daily caseload for the fifth straight day.

This recent happening has shaken India and drawn the attention of the world. International efforts to help tackle the crises are hastening, with both Britain and United States pledging aid.

Also, cryptocurrency influencers set up fund to help provide relief to Covid-19 ravaged India. Ethereum co-founder Vitalik Buterin, a former Coinbase CTO Balaji Srinivasan and board partner at VC firm Andreessen Horowitz are pitching $750,000 into this fund set up by the founder of Polygon Sandeep Nailwal to help fight the devastating second wave of Covid-19 in India.

The fund set up started with a tweet by Sandeep Nailwal that prompted monetary reactions and retweeting from cryptocurrency influencers. Vitalik donated more than $600,000 in ETH, while Srinivasan and Horowitz donated $50,000 also in ETH.

In response to Vitalik’s generosity, Srinivasan said for those who can’t afford to donate he will another $50, up to $100,000, for every retweet of his appeal.

Due to the Indian government legislation in preparation to ban private cryptocurrencies, there are chances that this generosity and aid might not be accepted.

According to Tanvi Ratna, CEO of Policy 4.0,

“This is a gutsy, though risky campaign, especially because under India law, foreign funds for charitable purposes are very closely scrutinized.”

With the urgency of aid needed in India to fight this second wave of Covid-19, it is adviced that every help rendered by the crypto community should be welcomed.

 

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