The inventor of the Ethereum blockchain, Vitalik Buterin, says he will not seek a tax write-off after donating more than 50 trillion of Shiba Inu coin to the Indian COVID-crypto fund.
Buterin says he is taxed as a Singaporean citizen, whose rules are “significantly cleaner than in the US or Canada”.
Because Shiba Inu has been incredibly volatile lately, the value of the initial donation has already fluctuated. At one point it was worth about $2 billion, but subsequently fell to around $800 million.
Ethereum is the world’s most used blockchain. It was invented in 2013 by Buterin and a group of co-founders.
