India got $1-bn crypto to fight Covid. What happened to the donation?

Two months after Ethereum co-founder Vitalik Buterin donated about $1 billion in cryptocurrency to an India Covid relief fund, about $20 million has been paid out so far.

That may not sound like much, but between cashing out of an illiquid asset, complying with government regulations and getting the money to the right places, it isn’t easy, according to Sandeep Nailwal, a New Delhi-based entrepreneur who founded the India Covid Crypto Relief Fund that received the donation.

For starters, Buterin’s gift of 50 trillion Shiba Inu coins -- 5 per cent of the memecoin in circulation -- spurred a 50 per cent