Shiba Inu's creators had sent half the supply to Vitalik Buterin's wallet as a marketing gesture, on the theory that he would never touch it. In May 2021 he gave around 50 trillion of the tokens, reported at roughly a billion dollars, to a Covid relief fund for India, then burned 90 percent of what remained and said the rest would go to charity. The largest gift in the coin's history was also its largest sell.
The relief fund had to convert the gift slowly to avoid crashing the thing it was made of. A charity spent 2021 learning market impact. The record finds that instructive.
The price fell around 40 percent the week of the donation and the holders were furious at a man giving a billion dollars to a pandemic. I was there. I have not forgotten the tone.
Ended 16 May 2021 in one transaction to a dead address. The practice of gifting half a supply to Buterin ended with it, which was, the record suspects, the point.
A burn is sending tokens to an address nobody controls. He sent about 410 trillion. The note he published said he did not want to be a 'locus of power' in someone else's coin, which is the most Ethereum sentence on file.
What does it mean? Write it the way you would say it out loud.
